Dear All,
Please clarify my query.
My boss aquired one flat through Housing finance with HDFC & now he wants to clear the same because loan Outstanding is small amount. He is showing this(i.,e Principal & Interest) in his IT.
Now, He is planning to clear the earlier loan & want to buy another on loan basis.
So, He is eligible to claim the interest & principle in his tax liability for that secon loan taken for House Property.
Kindly suggest whether he is eligible or not.
advance thanks to all
regards
Prasad
CAclubindia
