sir, i have property one house and one new shop purchase on morgage loan, total two property.
can i claim shop loan interest u/s 24
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Quick Summary
This discussion clarifies that you can indeed claim interest paid on a loan taken to purchase a shop, even if it's a commercial property. The interest can be claimed as a deduction under Section 24 of the Income Tax Act. Furthermore, if you have a loss from one property, it can be adjusted against income from another, offering potential tax savings.