if an assessee took a housing loan and doesn't invested any amount in property or doesn't fulfill the purpose defined under section 24 i.e. Purchase/ Construction/ Repair/ Renewal/ Reconstruction of a Residential House Property. Then assessee can claim the deduction u/s 24(interest amount) or 80C (principal amount or not?
Menu
Section 24 of income tax act 1961
Replies (4)
No he can't take deduction under section 24.
I agree with aravind
but can he claim u/s 80 C ?
Even deduction U/s 80 c also Not available
The important thing is that how one can take loan from financial institution/banks without submitting any documentation proofs. And if he has taken house loan but there is no purchase/reconstruction/repair/renewal of house, no claim u/s 80C or u/s 24b can be availed.
Recent Topic
- TDS ON RENT BY TENANT
- Forward tax charge gst related
- SBI direct mutual funds ITR
- 44AE Section
- FEMA compliant structure
- Tax obligation in AY 2026-27
- EFILING ITR2 FROM COMMON FILING UTILITY
- SBI gold bond interest
- PPF Interest Exempt - But what drop down to choose
- Itr2 or itr3 intraday trade 1 loss of 70 paise
Related Topics
CAclubindia
