Assessee has borrowed funds for acquiring/constructing a plot.
Q- Interest on such fund can b allowed U/S 24(b) ?
2 Replies
CA Ayush Agarwal
(Kolkata-Pune-Mumbai)
(27186 Points)
Replied 09 December 2009
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.
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