Hello A house (construction linked plan) was sold withing 2 years so im calculating STCG...i had taken a loan and i paid interest on it. Now while calculating STCGc can i deduct loan interest that i paid under expenses? the loan ws fully paid back before house sale
generally u can claim deduction of interst paid under head income from house property and loan repaid under sec 80c subjected to maximum of rupees 1 lakh.but u cant get deduction of interst paid on housing loan as purchase cost
Interest on Housing loan will not be included in cost of acquisition. claim interest on housing loan under the head house property and principal part in sec. 80C.
You have already taken the benefit of this u/s 24, claiming the interest as deductions.
Ok, thanx everybody.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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