Meaning of construction/reconstruction for sec 24(b) of income tax act
This query is : Resolved
22 July 2014
does construction of a floor amount to construction? can v claim deduction of Rs 1,50,000 for such construction?
already loan has been taken for construction of ground floor and Rs 1,50,000 is claimed as deduction for the same.
new loan is taken for 1st floor construction . for this message is Rs 30,000 or Rs 1,50,000 allowed
22 July 2014
in totality only max 1,50,000 is allowed including for additional floor as its for whole of sop.
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