Sir,
A doctor has clinical income also he paid interest for the same building as housing loan.
can we deduct?
self occupied clinic?
3 Replies
Kapadia Pravin
(17259 Points)
Replied 27 August 2019
it is a property used for commercial purpose. You have to take chance. There can be different views. I think show property under IFHP to enable taking interest deduction under 24(2)
ravi
(student)
(44 Points)
Replied 28 August 2019
it is treated as business asset hence we claimed depreciation on such building
and also claim interest as an expenditure in profit and loss account
and also claim interest as an expenditure in profit and loss account
MURALIDOSS
(INCOME TAX PRACTITIONER)
(1329 Points)
Replied 28 August 2019
THANKS TO BOTH OF YOU SIR.
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