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DEDUCTION FOR COMPANIES UNDER INCOME TAX ACT

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(Querist)
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
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
04 September 2010 Yes it can get if the income which the property which is being generated is taxed under income from house property.
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CA Ketan Jain

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CA Ketan Jain (Expert)
04 September 2010 Yes, company can claim interest as deduction.
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