Hello There,
Greetings of the Day to all the CCI Members.
I am having a querry with regard to the deduction of interest u/s 24(b).
Our client had taken a housing loan. 50% of the interest in respect of this loan is directly paid by the BANK which is taxable a perquisite.Now 50% of the interest is paid by the client.
So what is the amount that is allowable as deduction under section 24(b).100% interest or 50% interest i. e. paid by the CLIENT?
Tanx in advance.
PLZ Help me.
CAclubindia
