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Deduction of interest on borrowed capital in case of co-owners

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Aman Aggarwal (Audit & Finance Manager)   (62 Points)
Replied 14 October 2011

So ya... i agree with Miss. Richa & Mr. Mukul's explanations.

Nitesh Matta (Nothing) (198 Points)
Replied 14 October 2011

Yes agreeing with all.. in case of SOP If the property is bought after 1st april 1998 for acquisition or construction and the construction is complted with 3 years then maximum allowable deduction is 150000 otherwise it is 30000. in case of joint co owners, each can claim the seperate dediction u/s 24(b).



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