interest on housing loan
This query is : Resolved
30 December 2009
can we claim deduction of interest on housing loan after strating of loan repayment irrespective of the date of possesion
30 December 2009
Hiii..
No, You cannot claim only on the basis of Starting Loan repayment.
According to Sec. 24(b) Interest can be claim only in following conditions:
1) If House bas been purchased or Completely constructed, or,
2) on FULL REPAYMENT of loan.
Therefore, because there is not Full Repayment of Loan, so you cannot claim exemption of Interest Amount at this time.
Regard!!!
Dinesh S. Adhikari
No, You cannot claim only on the basis of Starting Loan repayment.
According to Sec. 24(b) Interest can be claim only in following conditions:
1) If House bas been purchased or Completely constructed, or,
2) on FULL REPAYMENT of loan.
Therefore, because there is not Full Repayment of Loan, so you cannot claim exemption of Interest Amount at this time.
Regard!!!
Dinesh S. Adhikari
30 December 2009
agree
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Import license renewal
- Credit profit and loss account in case of bonus share received
- How to determine cost of acquisition of shares on De-merger or Merger
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
