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income from house property
can anybody please explain the deduction of 'interest on borrowed capital' from income from house property ?
Replies (3)
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:
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.
you can claim pre construction periods interest in five equal parts
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