Deduction of Interest U/s 24(b) of IT Act

whether principle amount paid or not, as long as interest is credited by party (bank or any other person) to ur HOUSIN LOAN a/c, it can be claimed as deduction u/s 24(b).

hi, Interest u/s 24(b) towards interest on housing loan is allowed since you have incurred the expenditure towards the interest.  Though you are not repaid principal there is no reason for IT to deny your exemption.

 yea..sec 24b is on accrued basis..not paid

yes, deduction u/s 24(b) is available in respect of interest payment on housing loan so deduction shall be available irrespective of the fact that no principal has been repaid

 Yes, interest under section 24(b) can be claimed on payment or accrual basis.

ofcourse u can claim deduction of int. u/s 24(b). waise be it could b claimed on accrual basis also. so just ejoy ur deduction