Deduction under sec 24
This query is : Resolved
18 February 2014
I have taken house building advance from state Govt, , finance department, a sum of rupees 7.5 lakhs.I repay only installment of principal amount, can I deduct interest amount undee sec 24 of I tax
18 February 2014
Yes. Interest accrued and due is eligible for deduction u/s 24(b) subject to the limits prescribed therein.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Correction of AD Code in BOE Filed for High Seas Purchase
- TDS on Crypto section 194S
- Multiple GST Registration-Asset
- GST Practitioner Details
- If registered as GSTP should apply for new GST for trading
- Registration and LUT
- GST on written off amount credited to profit & loss account
- MSME Reporting in 3CB-CD
- GST REGIST FOR EXPORT OF SERVICE (ACCOUNTING)TO FOREIGN CLIENTS IF TURNOVER LESS THAN 20 LAC
- SECTION 50AA SHORT TERM CAPITAL GAIN IN CASE OF MLD
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
