Deduction under pgbp and ifhp

This query is : Resolved

Lijiya Joseph (Querist)
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12 January 2015 If an assessee (being an individual) is doing his consulatancy business using a part of his own house which has been constructed with housing loan taken from a nationalized bank, Will he be eligible to claim the depreciation for the part of the house used for business under the head profits and gains of business or profession along with the 1,50,000/- exemption u/s 24 for the same.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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12 January 2015 Yes he can claim depreciation and interest paid on the portion of the building used for business along with 1,50,000 exemption u/s 24.

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