The assessee has obtained a non refundable loan from his PF a/c for the purpose of constructing a house & claimed deduction of deemed interest on such loan.
Q- Such deemed interest can b claimed U/S 24 (b) ?
The assessee has obtained a non refundable loan from his PF a/c for the purpose of constructing a house & claimed deduction of deemed interest on such loan.
Q- Such deemed interest can b claimed U/S 24 (b) ?
I think deemed interest is not claimed for deduction U/S.24 (b)
Deemed Interest is not allowed.
There no sec to provide deduction in respect deemed interest in Sec 22 (House Property income)
| Originally posted by : P-A-W-A-N | ||
| " | There no sec to provide deduction in respect deemed interest in Sec 22 (House Property income) | " |
the section says 'actual interest paid or payable'
so deemed interest will not deductible
Yup ..it will not be deductible
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