Hi Friends,
I purchased a house for Rs.20 lacs as per registered document but availed housing loan of Rs.30 lacs. Can I claim deduction u/s 24b on Rs.30 lacs or Rs.20 lacs. Please clarify with available case laws.
4 Replies
ash_TRSS
(Article)
(311 Points)
Replied 13 January 2016
Deduction u/s 24b is on actual interest paid on home loan.
Vishal Goel
(Chartered Accountant)
(1693 Points)
Replied 15 January 2016
Hello,
As per Section 24, the Income from House Property shall be reduced by the amount of Interest paid on Home Loan(Rs-30 Lakh) where the loan has been taken for the purpose of Purchase/ Construction/ Repair/ Renewal/ Reconstruction of a Residential House Property.
poornima
(Chartered Accountant)
(38 Points)
Replied 18 January 2016
Thank you for your information sir. But for confirmation i need atleast one case law relating to this question. please send if available
poornima
(Chartered Accountant)
(38 Points)
Replied 18 January 2016
Thank you for your information sir. But for confirmation i need atleast one case law relating to this question. please send if available
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