GOVIND MURLIDHAR KAKADE (PROPRIETOR) (25 Points)
26 July 2011THREE RESIDENTIAL FLATS ON ONE FLOOR PURCHASED IN THE NAME OF HUF . TWO HOUSING LOANS WERE RAISED FOR PURCHASE OF ABOVE PROPERTIES.
WHETHER BOTH LOANS ARE ELIGIBLE FOR DEDUCTION OF INTEREST ON HOUSING PROPERTY U/S 24 (a)?
& DEDUCTION FOR REPAYMENT OF PRINCIPAL OF LOAN?
Sunshine
(Helping All)
(10575 Points)
Replied 26 July 2011
yes both loans will be eligible fr deduction u/s 24(b) as well as 80C
Abhijeet Deshpande
(Co-Founder & Manager @ Tax-Yantra)
(1171 Points)
Replied 26 July 2011
CAclubindia
