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Interest on bank loan against rent received

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 February 2014 I had taken bank loan against construction of a godown.During the financial year 2012-2013, I had received a rent of Rs.5,00,000/- against godown rent and had also paid bank loan interest of Rs.2,50,000/- (Loan entirely invested on construction of the godown). Whether I can claim deduction of bank interest from the rental income ?
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AVTAR SINGH

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AVTAR SINGH (Expert)
02 February 2014 The deduction of interest can be claimed from the rent received.
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Rupesh Jain

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Rupesh Jain (Expert)
26 May 2014 you can take deduction u.s 24(b) for intt paid on loan.
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