27 August 2012
Respected Sir, I have purchased a plot by taking the loan from the bank. the plot was registered on the name of my daughter.I am Repaying the loan Shall i eligible for deduction u/s 80c &24(b)for the Interest. Thanking u sir.
27 August 2012
Principal & Interest payment on loan taken for purchase of plot not eligible for deduction. section 80C & Section 24b both are allows deduction of purchase or construction of house property only.so principal & interest repayment on plot purchase not eligible for deduction. also owner of the house property has eligibility to claim u/s.80C and 24b.
Guest
Guest
(Expert)
27 August 2012
Deduction u/s 80C and 24b not admissible for plot.
CAclubindia
