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income from house property

Abdullah Tanveer (11 Points)

06 March 2018

can anybody please explain the deduction of 'interest on borrowed capital' from income from house property ?

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Krishan kant (student) (600 Points)
Replied 06 March 2018

section 24 (b) provides where the property has been acquired, constructed, repaired, renewed or reconstructed with borrowed capital, the amount of any interest payable on such capital:

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Rishi Mehta (Ur friend ) (1533 Points)
Replied 06 March 2018

Yes you can claim interest on capital borrowed for construction of house under section 24B.
1.Rs. 200000 in case of self occupied house.
2. Entire interest in cae of let out house.