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 ?
3 Replies
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:
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.
1.Rs. 200000 in case of self occupied house.
2. Entire interest in cae of let out house.
Krishan kant
(student)
(600 Points)
Replied 06 March 2018
you can claim pre construction periods interest in five equal parts
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