Deduction of great interest on Casing Loan – Area 24b
Introduction
Point 24b of money income tax act lets deduction of interest into home loan in the nonexempt income. Such as for instance mortgage can be pulled for sale or framework or resolve or reconstruction from home assets.
For example deduction is actually enjoy to your accrual base, instead of reduced base. Put another way, the eye payable for the year is allowed as the deduction whether or not including desire is largely repaid or not. ()
