I have got a land loan from a bank on Jan 2011. I am intended to construct a Hut (Not a concrete house) in April 2011. As per the current IT rules, will I be eligible to deduct interest paid? Will a Hut be considered as a house building?
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Will Hut be considered as a house for deduction?
Replies (1)
Yes you will be eligible for deduction of interest paid(1,50,000) or principal maximum 1,00,000 u/s 80c.
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