Loan against commercial property

Yes, you would get deduction of full interest paid during the financial year u/s 24 while computing the income from house property. However interest paid during the construction period will be deductible in 5 equal installments till the previous year preceeding the eyar in which you get the possession once you get the possession of the properties Your income from house property will be as follows:

Rent Received                                    xxxxxx

Less: Municipal Tax Paid                    xxxx

Adjusted Annual Value                   xxxxxxxx

Less: Std Deduction @ 30%

          Interest on Home Loan

           u/s 24

Income from House Property     xxxxxxxxxx

Loan against property is a loan which you avail by keeping your commercial/residential property as a collateral as, this property can be a commercial as well a residential property. The property remains mortgaged until full repayment of the loan. lap loan can be taken for funding various purposes, from business-related purposes, medical emergencies, to fund a child's education, weddings etc.

The eligibility criteria for loan against property and check the documents required for loan against property is:

• Latest Salary Slip

• Bank Account Statement

• PAN/AADHAR CARD

• Address Proof

• IT Returns

• Documents of property