interest and principal
anujbirla (none) (37 Points)
25 July 2018
whether loan taken for purchase of land qualifies for deduction under section 24b and 80c?
3 Replies
Vishesh Bhagat
(100 Points)
Replied 25 July 2018
it will be qualified for deduction if such loan is taken for construction of plot on that land.
mare purchasing of land does not qualify for deduction
mare purchasing of land does not qualify for deduction
Pranjali
(intern)
(2216 Points)
Replied 25 July 2018
No, you aren't allowed deduction . neither under 24b nor 80C
rama krishnan
(12244 Points)
Replied 25 July 2018
if you construct any building within 5 years over the land, then you can claim those interests as preperiod interest
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