08 March 2011
sir, plz tell me regarding provision of claming deduction of housing loan repayment and its interest. can we claim this deducion of housing loan repayment and interest on unpaid amount i.e. on accrued amount.
If you have not paid the housing loan (Principal part), it cannot be termed as repayment, as Dedcution is given only on repayment basis of Principal amount, However in the case of Interest, the same view is not applicable as interest can be claimed on Accrual basis U/Sec 24.
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