Deduction of interest on housing loan.

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..... A person constructed ground floor of a house by taking a housing loan. This loan is still not fully paid. Now he constructs two additional floors on this house by taking a fres housing loan. Whether t .....

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..... he interest on fresh loan is allowable as deduction from income from house property u/s 24 . - Reply By Mukesh Kumar - The Reply = In my view there is no restriction u/s 24 of the income tax (house .....

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..... property) regarding deduction of interest on borrowed capital used for construction of additional two floors on the existing building. You can claim the deduction for full amount of interest if the pr .....

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..... operty is let out otherwise, the deduction shall be limited to 1.5 lakhs. - Reply By BIBHUTI DAS - The Reply = agree with Mukesh Ji - Deduction of interest on housing loan. - Query Started By: - mano .....

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..... j gupta Dated:- 14-7-2010 Income Tax - Got 2 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxman .....

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..... agement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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