Deduction of Interest paid to bank for borrowed capital against Godown Rent Income ?

Hii All,

One of our client has purchased Godown Premises by taking loan from Bank.

Suppose, he earns Godown Rent of Rs.2.40 Lakhs during the FY 2022-23 and pays interest to bank at the tune of Rs. 3 Lakhs.

Now my question is what amount can be set off against Interest Paid to Bank for Loan Taken from Bank ?

Thanks in advance

 

 

 

Replies (1)
Commercial loan is not eligible .

Only housing is eligible.

Godown is not a residential house

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