31 October 2017
I have availed a housing loan for construction of ground floor in year 2000. Now I have taken an additional loan for extension of the above property ( construction of 1st floor) Purpose of loan given by Bank is extension of house. In this case whether the interest paid on loan for extension of house will be counted in the prescribed ceiling of Rs2 lakh p.a or Rs 30000/ p.a under section 24. Extension is nothing but in actual it is a construction
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