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deduction of house property
is reconstruction of house covered under the deduction intrest of loan u/s24 of house property
Replies (9)
if self occupied than 200000₹ if let out than No limit of interest Amount
bt i am asking about deduction of int on loan in case of self occupied; and my query is whether deduction is given to reconstruction of house property or not
yes allowed up to ₹ 200000
ok it means reconstruction is also allowed...i was thinking that only purchase nd construction is qllowed
interest on both purchase n reconstruction are allowed as deduction u/s 24b
n interest on pre construction loan is also allow is 5 equal installment
n interest on pre construction loan is also allow is 5 equal installment
for repairs and reconstruction 30000 limit.
30000 for reconstruction ; ok thnku so much
30000 prior to 1/4/2001
when property is reconstructed or renewed with capital borrowed on or after 1.4.99
deduction will be- Maximum 30000.
deduction will be- Maximum 30000.
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