If mortgage loan is taken for the purpose of construction or acquisition of house property(Let-out property in particular), can the Interest & Pricipal be claimed?
25 November 2009
if you take housing loan from authorized financial institution or banks for construction,reconstruction, or acquisition of house is eligible to claim.
25 November 2009
Interest on mortgage loan taken for the construction of a property ,being let out subsequently, can be claimed without limit under section 24(b). However principal portion will not be allowed under section 80C being not residential.
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