IT Benefit on Loan for Commercial property

POSTED BY Ram ON June 11, 2012 2:31 pm COMMENTS (7)

Dear all,

Is it possible to get IT benefits on housing loan taken in purchase/construction of commercial bldg/ shops.

Bank is ready to give hosing loan on this building.

Pl. give your views on this.

Regards, Ram

7 replies on this article “IT Benefit on Loan for Commercial property”

  1. Ram says:

    Thank you Mr. Ashal. Yes Mr. Ashal, we are intend to rent the shop.
    However, bank interest rates on commercial property are high. Hence, we are checking for internal fund raising.

    Anyhow, thanks for your info.

    Regards, Ram

  2. Dear Ram, Yes is the answer if you intend to use that building for rental purpose.



    1. Aji Ed says:

      Dear Ashal,

      I was going to post the same question on IT benefit for commercial properties. I already have a self-occupied house and I plan to buy a commercial property taking housing loan from the bank. Can I get the IT benfits for the whole interest component without any limit? I plan to give this property for rental. Thanks in advance for your response.


      1. Dear Aji, as you are going to declare your rental income, the interest paid by you ‘ll be available to set off with out any limit.



        1. Aji Ed says:

          Thank you for the prompt response.

        2. Anirul says:

          Is there any provision to offset income coming through salary in the interest or principal of commercial property loan.

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