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interest on borrowed capital

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1 Points Posted on 14 August 2018
when interest on borrowed capital of pre construction period is allowed in five equal installments and when not.
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On 14 August 2018 at 08:54 Report
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Coaching and Practice in Tax Audit Law
4429 Points Posted on 14 August 2018

Once construction is over than interest on construction of house property can be claimed in 5 instalments.

Rest interest on borrowed capital is capitalised in qualifying asset until asset is ready to use

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On 14 August 2018 at 10:16
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168 Points Posted on 14 August 2018
interest on borrowed capital is allowed in 5 installments from the year in which the construction of property is completed...but note that total interest (1/5 pre construction interest+current year interest) is limited to the extent of ₹ 2,00,000 under 24B
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On 14 August 2018 at 10:32
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Article
208 Points Posted on 11 October 2018
property must be constructed in 5 years. else not eligible
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On 11 October 2018 at 22:24


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