Assessee has borrowed funds for acquiring/constructing a plot.
Q- Interest on such fund can b allowed U/S 24(b) ?
Menu
Interest U/S 24(b)
Replies (2)
Mr. Ansari, First of all,
There should be house property , the construction for House property
second one it will allowed after construction , and now taken in preconstruction period. & later 1/5 allowed after construction for five years.
yes he can take the exemption u/s 24
Recent Threads
- Notice on foreign assets
- How much cash deposit allowed in bank for loan rep
- Income Tax Compliance Notice for Donation
- Foreign share dividend tax can be claimed in Sched
- CAPITAL GAIN ON SALE OF PVT LTD COMPANY'S SHARE
- Treatment of Capital subsidy for calculating taxab
- Time limit under section 119(2)(b) of ITA for AY 2
- How much cash allowed to loan prepayment to bank
- Procedure for 'inter-unit job work' under GST Act
- Advances received and Advances adjusted - HSN Summ
Related Threads
CAclubindia
