Income Tax (36 Points)
30 January 2008Dear sir!
For my income tax purpose can I use plot loan.I have no own house or plot .I am a salary class. How can Plot loan can be used income tax dedcution?
Regards
CA Hemant T Dewani
(Chartered Accountant)
(3356 Points)
Replied 31 January 2008
Deepesh Jain
(C.A (May 11 Batch))
(104 Points)
Replied 06 March 2010
obviously u can
rent the plot/house
and claim the deduction against such income
there will be loss in intial years as interest liablity will be high
the same can be sett off against other income
C.Balaji
(Learner)
(1867 Points)
Replied 06 March 2010
No house - No plot - Therefore No deduction.....
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