Deduction u/s 24
This query is : Resolved
22 July 2016
An individual Mr. X has salary income. during the F.Y. 2015-16 he purchased a commercial shop form government and for this he takes a loan form bank. the shop is used by his son for doing his business.Total interest paid by Mr. X during the F.Y. 2015-16 is Rs. 412500/-
Whehter he can claim the deduction for this interest.
Whehter he can claim the deduction for this interest.
22 July 2016
No, deduction is not possible unless he has rental income.
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