Dear 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
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Plot Loan
Replies (4)
if you taken a loan for plot then you will capitalised the interest of plot loan ,if you taken a loan for other /personal purpose it will not deductable.what purpose loan taken and invesment is made is important
no benefits can be claimed.....
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
No house - No plot - Therefore No deduction.....
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