Income from house property

Direct Taxation

Jayanti borrowed Rs.8,00,000 @ 12% p.a interest on 1.4.2018 for construction of a house which was completed on 15.3.2020 . The entire loan is repaid on 31.8.2022. the deduction allowed u/s 24(b) for A.Y 2023-24 is ?

Sanjay Nandha

CA Inter

★ 11K+

18-Mar-23 00:43

434

Answers (1)

Since loan taken after 1.4.99 And construction completed within 5 years JAYANTI CAN TAKE DEDUCTION U/S 24(b) maximum 2lakh ( if she has certificate from lender) If not Max allowed is 30k

Madhu Reddy

CA Inter

★ 4K+

18-Mar-23 07:16