Poonawalla fincorps

Interest on Housing Loan

This query is : Resolved 

24 March 2009 Dear Professional couligue

A Individual Person has taken a general Loan from state financial corporation and the proceeds has been used for the purpose of construction of an Hospital Building and let out the same.
whether the interest on said loan can be taken as a deduction U/S.24 against the Rent receivable.
please reply any one as early as possible

thanks and Regards
Rajesh

24 March 2009 you can not claim deduction.
section 24 deals with residential house property and not hospital.

25 March 2009 Interest paid/payable on the said loan can be claimed irrespective of any limit u/s 24(b) against the rental income.




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