I HAD BUY RESIDENTIAL PLOT OF Rs. 500000, ON WHICH I BORROW FUND FROM MY FRIENDS OF Rs. 200000. Can WE ADD INTEREST PAID AMOUNT TO COST OF MY PLOT OR NOT AS PER INCOME TAX LAWS.
PLEASE ANSWER MY QUESTION AT EARLIEST.
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Interest paid on capital assets (Residential Land)
Replies (2)
Yes, you can add interest
No restrictions
No restrictions
You can take interest
but you can't take principal or additional interest as per new section 80ee
but to claim the above interest you should have the loan certificate with proper name n pan number
but you can't take principal or additional interest as per new section 80ee
but to claim the above interest you should have the loan certificate with proper name n pan number
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