Hi,
I am planning to get a loan on a commercial property. Can someone help me in understanding if there is any tax rebate on commercial loan? If yes, what is the limit and under which section it is exempted?
I went through several websites and found contradicting answers and posts that why thought of asking it here.
Thanks in advance,
Shashank
Every thing depends upon the use of the property, If it is self used for any business purpose, the interest paid is deducted from business earnings.
If rented out, deduct the interest from the rental income...
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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