03 January 2012
whether interest on borrowed capital allowed as deduction u/s 24(b) for the construction of a house will be disallowed when the house is sold
03 January 2012
Deduction will be allowed under section 24(b) of the IT Act,1961 only after the completion of the house property. The deduction so allowed will not be forfeited upon the sale of the underlying house property.
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