18 April 2009
please explain me this provision under section 24(b) interest on borrowed capital Interest is deductable even if capital is borrowed to purchase a plot but not for the purpose of construction of building on it. please reply soon
18 April 2009
Section 24(b) can be claimed only for the interest payable on borrowed capital for the purpose of acquiring, constructing, repairing, renewing or reconstructing house property.
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