Interest on loan against property deductibility

Discussion in 'Tax queries' started by seema, Jan 2, 2014.

  1. seema

    seema Member

    If a person buys a commercial property by borrowing from bank as a Loan against property; also the the said is not used for commercial purposes nor is it let out to anyone. Can the person claim interest on the loan as a deduction to income from house property? Also can the principal portion of the said loan be deductible under section 80C?

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