Dear All
1.Can we claim Interest on loan even if not actually paid but due.
for ex-In case of Housing Loan Interest was due but not paid
Himanshu Agarwal (Proprietor) (186 Points)
04 March 2021
Naveen
(student)
(334 Points)
Replied 04 March 2021
Manoj BG
(Tax Professional and in Service)
(1795 Points)
Replied 05 March 2021
Yes, deduction for interest on housing loan u/s 24b allowed under accrual basis even if not paid. The payment condition is for principal repayment of housing loan which is allowed only on payment basis u/s 80C.
Regards,
Manoj
Himanshu Agarwal
(Proprietor)
(186 Points)
Replied 05 March 2021
Naveen
(student)
(334 Points)
Replied 05 March 2021
Kapadia Pravin
(17254 Points)
Replied 05 March 2021
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