Can we claim the deduction of interest paid towards Home loan under section 24 while filing under Section 44 ADA using the old tax regime? If so, how to do this?
Thanks for the help.
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Home loan interest deduction in Section 44 ADA
Replies (5)
Quick Summary
Yes... You can claim.
You can not claim interest deduction under 24 if you adopt new tax regime of lower taxation slabs
I think query not asking new or old...
From FY 2020-2021 , the Assessee is required to choose mandatorily between two types of taxation regimes.
So if you choose new taxation regime , you won't get section 24 interest deduction.
That is for FY starting from 1-4-2020
So choose option carefully.
So if you choose new taxation regime , you won't get section 24 interest deduction.
That is for FY starting from 1-4-2020
So choose option carefully.
Thank you for the response. It's for the old tax regime. Updated the question accordingly.
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