The assessee has obtained a non refundable loan from his PF a/c for the purpose of constructing a house & claimed deduction of deemed interest on such loan.
Q- Such deemed interest can b claimed U/S 24 (b) ?
7 Replies
G.E.Sudarsan
(Audit Assistant)
(97 Points)
Replied 09 December 2009
I think deemed interest is not claimed for deduction U/S.24 (b)
CA Ayush Agarwal
(Kolkata-Pune-Mumbai)
(27186 Points)
Replied 09 December 2009
Deemed Interest is not allowed.
P-A-W-A-N
(TAX - MANAGER AT GURGAON)
(541 Points)
Replied 09 December 2009
There no sec to provide deduction in respect deemed interest in Sec 22 (House Property income)
CA Trinath Galla
(student)
(3130 Points)
Replied 09 December 2009
| Originally posted by : P-A-W-A-N | ||
| " | There no sec to provide deduction in respect deemed interest in Sec 22 (House Property income) | " |
lavanya l
(Awaiting Result)
(31 Points)
Replied 09 December 2009
the section says 'actual interest paid or payable'
so deemed interest will not deductible
Hareesh H Sharma
(Cleared IPCC..now article)
(894 Points)
Replied 09 December 2009
Yup ..it will not be deductible
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