One of my friend has taken a house repairing loan from Gopinath Patil Parsik Janta Sahakari Bank Ltd. On Which He paid 24051 as Principle & 9549Rs As Interest Amount Can He Claim Interest & Principle As Deduction ???? Similar To Housing Loan?????
CHIRAG DEEPAK GANATRA (CA FINAL) (1054 Points)
10 January 2011One of my friend has taken a house repairing loan from Gopinath Patil Parsik Janta Sahakari Bank Ltd. On Which He paid 24051 as Principle & 9549Rs As Interest Amount Can He Claim Interest & Principle As Deduction ???? Similar To Housing Loan?????
Pankaj Arora
(Learner)
(3134 Points)
Replied 10 January 2011
YES he can claim deduction of interest and principal both.
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 10 January 2011
| Originally posted by : CHIRAG DEEPAK GANATRA | ||
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One of my friend has taken a house repairing loan from Gopinath Patil Parsik Janta Sahakari Bank Ltd. On Which He paid 24051 as Principle & 9549Rs As Interest Amount Can He Claim Interest & Principle As Deduction ???? Similar To Housing Loan????? |
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if the principal amount is added in value of house property, then only he can claim.
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