Preconstruction interest claim on commercial property

Hello All,

Can we claim preconstruction interest and Interest on loan on purchase of office via loan taken against office ?

Thanks
Virag.
Replies (5)
Quick Summary
This discussion explores the possibility of claiming preconstruction interest and loan interest on a commercial property purchased with a loan. While initial responses suggested it might be possible under Section 24(b), it was clarified that if the property is used for business purposes, such interest cannot be claimed as a deduction because it's not treated as a 'house property' for tax purposes.

Yes, you may claim deduction u/s 24(b) even in respect of a commercial property.

Thanks for the response, Poornima.

Anyone have different opinions ? I received mixed answers.

Thanks,
Virag
Is the office used for your business purpose?
Yes. it's for business purpose
Then you cannot claim deduction uls 24(b),as this is not a House property.

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