if assessee has taken house loan & has shifted in it on 28th march. Then how much of interest is allowable to him?
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Housing loan interest
Replies (4)
In the current a.y 1/5 of total interest paid will be allowed. From next year whole amount will be allowed under income from house property. Principal amount will come under 80c. Regards
according to me,
in the current year 1/5 of the previous interest in addition to current year interest paid will be allowed as deduction in the c.y.
if pre constructed house is purchased on 15 january & acquired by assessee on 28th march. then also same treatement will be there?
Dear Samiksha
1/5 of preconstruction period interst and whold interest of current financial year will be allowed as dedcution u/s 24 b
next is, in your question you have not cleared that when have yo taken loan.
if loan is taken on ready to move house than there is no question of pre construction period or so.
hope your query would have been resolved
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