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interest and principal
whether loan taken for purchase of land qualifies for deduction under section 24b and 80c?
Replies (3)
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
No, you aren't allowed deduction . neither under 24b nor 80C
if you construct any building within 5 years over the land, then you can claim those interests as preperiod interest
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