Mr. A Constructed & completed Commercial complex in three year by taken Term Loan from bank against the Property and Loan EMI started from the beginning of construction.
Now my question is that Mr A has paid Interest up to completion of construction of Commercial property is eligible deduction u/s 24B in five equal installments after the completion of Complex or pre construction deduction is only for Residential House Property ?
Does pre Construction Loan Interest eligible deduction against Commercial Property Rent Income ?
15 December 2020
Interest up to completion of construction of Commercial property is eligible deduction u/s 24B in five equal installments after the completion of Complex if rental income is shown as income from house property.
15 December 2020
Thanks for your valuable reply but sir my point is, Deduction allowable only to Residential Property or Commercial Complex Property or both ? my consultant advise me that Pre Interest not eligible for Commercial Property it is true ?
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