Deduction

This query is : Resolved

Chirag H. Thakkar (Querist)
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23 July 2012 A salaried person had taken loan on his FD.

He used this loan for construction of house.

Whether the person is eligible for the deduction of the interest on loan???

The person has let out this house..

Mihir Doshi

Mihir Doshi (Expert)
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23 July 2012 Yes,
Deduction of Interest on Loan taken will be eligible u/s 24b of Income tax act. There is no limit to claim it in case of let out property.

Is it personal loan? or Loan for House property??

Chirag H. Thakkar

Chirag H. Thakkar (Querist)
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23 July 2012 Reply me for both options..

And is there any decided case for the issue..
if yes,then please specify..

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