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Self occupied commercial clinic

Others 257 views 3 replies

Sir,

A doctor has clinical income also he paid interest for the same building as housing loan.

can we deduct?

self occupied clinic?

 

Replies (3)
it is a property used for commercial purpose. You have to take chance. There can be different views. I think show property under IFHP to enable taking interest deduction under 24(2)
it is treated as business asset hence we claimed depreciation on such building
and also claim interest as an expenditure in profit and loss account

THANKS TO BOTH OF YOU SIR.


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