Menu
treatment of interest in loan
if aperson take DLF house and having home loan on his house but did not having possession till now then what will b the treatment of interest in loan
Replies (3)
If possession received within 5 years of loan disbursement, then the accumulated interest can be available for deduction u/s. 24(b) of the act, in five equal installment.
no possession rcvd in March which was more than 5 years
So, no deduction will be allowed for pre-construction interest paid/accrued.
Recent Threads
- GST - RCM - for Commercial Building Rent
- Exemption from Penalty for delayed Board meeting
- TDS ON PROFESSIONAL FEES IN NON AUDIT CASE
- Penalty are applicable on short payment of GST
- Closing Stock111
- INVOCIE GENERATED FROM ONE COMPANY AND EWAY BILL G
- Ineligible itc under section 16(4) & itc restr
- Itc on when mixed sales percent in hospitality
- Apply for GST registration while working in MNC
- Deferment period for Advance Tax under Section 234
Related Threads
CAclubindia
