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?
Menu
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.
Recent Topics :
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
- HDFC Bank’s Bureaucracy: The Nightmare of Fl
- Running a CSC Center, Maha E-Seva Kendra, Setu Ken
- GSTR-9 Table 8A issue
- CA Inter Coaching institutes at Hyderabad
- Looking for practising CA
- TDS return filing
- Need formats of FS as per Co act 2013 in soft copy
Related Topics :
CAclubindia
