banner_ad

Housing loan interest

Tax queries 405 views 4 replies

if assessee has taken house loan & has shifted in it on 28th march. Then how much of interest is allowable to him?

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 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details