Deduction of interest on borrowed capital in case of co-owners
Page no : 2
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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