interest on loan for plot of land
This query is : Resolved
11 June 2010
Is interest paid on loan taken for purcahse of plot of land eligible for deduction u/s 24?
15 June 2010
No, No deduction will be allowed for such interest. Deductin will be allowed after consturciton of house property on such plot in five equal instalmemtn from the year in which house is constructed,
18 June 2010
agreed. u can claim total interest up to date of completion of house property in 5 equal installment but after completion of house.
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