28 December 2009
As everyone know, when a fresh loan is taken to repay the existing loan, Interest u/s 24(a) is allowable as a deduction. My question is, whether it is restricted to Rs. 30,000/- or Rs. 1,50,000?
28 December 2009
Int on borrowed capital Rs.1,50,000/- Rs.30000 Generally (higher deductions are allowable only where the capital is borrowed after 01.04.99 and property is acquired/constructed within 3yrs from the end of FY in which capital was borrowed.)
28 December 2009
Int on borrowed capital Rs.1,50,000/- Rs.30000 Generally (higher deductions are allowable only where the capital is borrowed after 01.04.99 and property is acquired/constructed within 3yrs from the end of FY in which capital was borrowed.)
CAclubindia
