DEDUCTION FOR COMPANIES UNDER INCOME TAX ACT
This query is : Resolved
03 September 2010
THERE IS A COMPANY WHICH HAS PURCHASED A FLAT
WORTH Rs. 79 LACS AFTER GETTING FINANCED BY INDIA BULLS HOUSING LIMITED
AND IT IS PAYING INTEREST OVER THAT LOAN
CAN THAT COMPANY CLAIM " DEDUCTION OF THAT INTEREST UNDER SEC 24ab"
UNDER THE HEAD OF HOUSE PROPERTY
WORTH Rs. 79 LACS AFTER GETTING FINANCED BY INDIA BULLS HOUSING LIMITED
AND IT IS PAYING INTEREST OVER THAT LOAN
CAN THAT COMPANY CLAIM " DEDUCTION OF THAT INTEREST UNDER SEC 24ab"
UNDER THE HEAD OF HOUSE PROPERTY
04 September 2010
Yes it can get if the income which the property which is being generated is taxed under income from house property.
04 September 2010
Yes, company can claim interest as deduction.
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