u/s 24 b of the income tax act 1961
This query is : Resolved
04 March 2011
kindly give the nature of loan on intt. can be cliamed under section 24b under the head house property and is any person can cliam intt. on unsecurd loan under the 24 b
04 March 2011
Interst paid on borrowed capital taken for the purpose of acquiring, repairing, constructiong of house property is allowed u/s 24(b) of the I.T.Act
04 March 2011
Interest for house purpose could be claimed on unsecured loan also. But be prepared to offer suitable explanation, when needed, for source of loan.
11 March 2011
HI,
Interest on Loan taken for the Purpose Construction will be allowed U/Sec 24 (b) regardless of whether it is an unsecured Loan or a Secured Loan. However suitable explanation needs to be given if called upon for Scrutiny.
Thank you,
Regards
CA.Lohith.J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
Interest on Loan taken for the Purpose Construction will be allowed U/Sec 24 (b) regardless of whether it is an unsecured Loan or a Secured Loan. However suitable explanation needs to be given if called upon for Scrutiny.
Thank you,
Regards
CA.Lohith.J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
CAclubindia
