Property loan accounting

Is the property business asset? or personal asset?

The interest over property used for business purpose can be taken as business expense.

The interest over other property, if let out, then deduction can be claimed u/s. 24(b) IT act.

When you have taken loan over any residential property and pay EMI to bank/s. You are allowed to deduct interest paid to bank from the rental income; u/s. 24(b) IT act.

Refer:: https://housing.com/news/section-24b-tax-deduction-against-home-loan-interest-payment/