Interest on house building advance-Deduction under section 24(1)(vi) of the Income-tax Act, 1961-Clarification regarding
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....use building advance-Deduction under section 24(1)(vi) of the Income-tax Act, 1961-Clarification regarding. I am directed to say that the Board has considered the question whether interest on house building advance taken by the Central Government servants under the House Building Advance Rules of the Ministry of Works & Housing can be allowed as deduction when the interest becomes due or when it ....
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....ext Rs. 25,000, viz., Rs. 25,001 to Rs. 50,000; (iii) 10% per annum for the next Rs. 20,000, viz., Rs. 50,001 to Rs. 70,000. (g) The rates of interest on house building cases sanctioned after 1-6-1981 will be as under:- (i) 7% per annum for advances up to Rs. 25,000; (ii) 81/2% per annum for advances between Rs. 25,001 to Rs. 50,000; and (iii) 101/2% per annum for the amount between Rs. 5....