Loan to invest in partnership firm , interest paid , deduction?

The Assessee is Partner in the Partnership Firm. It earns Share of Profit, Remuneration & Interest on the Fixed Capital as well as Current Account from the Firm. The Assessee had taken Loan and invested the same as Fixed Capital as well as Current Account of the firm.

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  the property is in the name of my uncle, now he want me to become the co borrower , so whether i can take tax deduction under section 24 b with respect to interest.

The requirement of Section 24(b) where the property has been acquired, constructed, repaired, renewed, or reconstructed with borrowed capital, the amount of any interest payable on such capital is allowable.  The deduction can be claimed while computing the income from house property . On the facts  the income from house property is not offered in the hands of co -borrower . Facts also not clear whether the co -borrower is co -owner .  on the facts the assessee may not  be eligible to claim deduction. under section 24(b) of the Act. In  ITO v. Mamta Rajivkumar Agarwal (Smt.) (2022) 100 ITR…

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  payments to tenants

landlord pays sums to vacate tenants and then sells building outright. Can he claim these as costs while computing LTCG ?  

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  Payment of stamp duty on merger

Sir, What is the deductability of the stamp duty paid by the company at the time of merger? Will it be treated as capital expenditure?  

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  Deduction under section 80U

Mr. X is a senior Citizen. Due to BRAIN STROKE her right side is totally paralysed . She can not sit with out help. Sir , Under which section she can get deductios and what papers/documents are required.

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  50% deduction under section 57(iv)

The dispute of extra area work was finally settled throu arbitration award pertaning to pre GST period ( Finacial year 2016-17) . Some Compensation and interest is recived now. On the above interest,  income tax is payable on 50% income as per section57(iv) of Income Tax Act ?

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  24(b)

Regarding the deduction available u/s 24b of Income Tax Act, Can a son who is the co-borrower of the loan taken for construction of house claim the deduction u/s 24(b). Please note that he is not the owner/co-owner but complete EMI is getting deducted from his bank savings account. His mother is the only owner of the property. Sec 24(b) applicable where the property has been acquired, constructed, repaired, renewed or reconstructed with borrowed capital, the amount of any interest payable on such capital: Please help on this issue. Thanks

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  43B* ESIC PF paid within grace period of 5 days [employee’s contributions]

Is this still allowable after judgement of SC in the case of Checkmate case ?

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  Whether the assessee can claim deduction u/s 80D in respect of medical premium payment ?

Myself (aged 58 years) is paying Mediclaim premium for my family (myself,wife and two daughters) and also paying Mediclaim for my parents (father aged 86 years and mother aged 81 years).  I  do claim the benefit under 80D for the premium paid for my family as well as parents. My father has an average yearly expenses of Rs 20000/ for Medicines on hypertension and my mother for some preventive medicines (recently had breast cancer surgery done). Can my father (who is a taxpayer with income marginally higher than Rs 5 Lakhs) claim deduction under 80D for the medical expenses ?…

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