interest on borrowed capital

Sowmya.S.Balan (Paid Assistant) (749 Points)

28 January 2010  

in case of self occupied property whether interest on borrowedcapital is deductible on accrual basis or payment basis u/s 24. If on accrual basis what about an NPA A/c

whether deduction u/s 80 C for repayment of housing loan is allowable on payment basis or accrual basis