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.
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Housing loan interest
Replies (4)
Deduction u/s 24b is on actual interest paid on home loan.
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.
Thank you for your information sir. But for confirmation i need atleast one case law relating to this question. please send if available
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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