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The interest paid off towards said mortgage was stated by assessee given that good deduction u/s 24(b)

The interest paid off towards said mortgage was stated by assessee given that good deduction u/s 24(b)

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According to Part 24B, attention reduced into the home financing can be greeting since a good deduction during the time of calculating income regarding domestic possessions.

Area forty-eight, forty-two and 55, strongly recommend the manner regarding calculation from investment gain and the pricing and therefore will be considered with the aim computing the capital increases. This section cannot clearly condition if the interest paid into the home financing can be considered since a cost out-of buy so you’re able to compute money acquire available regarding family property.

The brand new assessee borrowed some cash for purchasing property assets. In the event the house assets try ended up selling, the interest paid back into said mortgage are managed while the “price of acquisition” and said as a beneficial deduction u/s forty eight into the measuring the main city gains.

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