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Gokul (CA FINAL)     02 July 2011

interest on housing loan

Hi.... can interest on housing loan exemption be allowed even the housing loan taken from any person? kindly clarify that......



 3 Replies

ABHISEK TOSNIWAL

ABHISEK TOSNIWAL (CA in Practice)     02 July 2011

The act is silent about this, so we assume that interest on loan is deductible for loan taken from any person.

 

Regards

Abhisek Tosniwal
 

Ayushraj

Ayushraj (Professional)     02 July 2011

Yes, Interest paid on Housing Loan can be availed under sec 24, even if taken from any person. Preserve receipts of the same.

CA ADITYA SHARMA

CA ADITYA SHARMA (CA IN PRACTICE )     02 July 2011

yes it is also deductible.                


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