Deduction u/s 24(b)
This query is : Resolved
26 June 2010
If the loan is taken for the construction of house property from bank or any person, then deducion for interest U/s 24(b)is allowed as per IT in both cases ( Bank and any person )
plz reply immediately.........
plz reply immediately.........
26 June 2010
Yes. Allowed , but for claming you need to get the certificate from the loan payer for charging the same and deduction can be taken u/s. 24(b)
26 June 2010
Yes, Deduction for interest U/s 24(b)is allowed as per IT in both cases.
However deduction u/s 80C for repayment of principal is allowed only if loan is taken from bank and other specified institutions.
However deduction u/s 80C for repayment of principal is allowed only if loan is taken from bank and other specified institutions.
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