07 April 2010
a loan for the construcation for a prorerty is takean and the intrest charged by the bank is rs. 25000 out of which rs.21000 have been paid .intrest on the unpaid is rs. 450. to repay this loan taken a fresh loan and interest charged on this loan is rs. 5000,,, sir pls tell me that amount of rs . 5000 which we have taken for repayment of un paid interest it can be dedectable or exemted in case of calculation of housing loan. hemmat hai to solve kare ka batawo..
07 April 2010
We can not take the benifit of interest to be paid on fresh loan, which has been taken for the payment of previous loan. you can go through the sec 24(a) and 24(b) of the Income Tax Act.
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