SAP ABAP Data Element PIN_INT24 (Deduction towards Interest Under Section 24)
Hierarchy
☛
SAP_HRCIN (Software Component) Sub component SAP_HRCIN of SAP_HR
⤷
PA-PA-IN (Application Component) India
⤷
PB40 (Package) HR master data: India
SAP_HRCIN (Software Component) Sub component SAP_HRCIN of SAP_HR⤷
PA-PA-IN (Application Component) India⤷
PB40 (Package) HR master data: India
Basic Data
| Data Element | PIN_INT24 |
| Short Description | Deduction towards Interest Under Section 24 |
Data Type
| Category of Dictionary Type | D | Domain |
| Type of Object Referenced | No Information | |
| Domain / Name of Reference Type | CURR9 | |
| Data Type | CURR | Currency field, stored as DEC |
| Length | 9 | |
| Decimal Places | 2 | |
| Output Length | 12 | |
| Value Table |
Further Characteristics
| Search Help: Name | ||
| Search Help: Parameters | ||
| Parameter ID | ||
| Default Component name | ||
| Change document | ||
| No Input History | ||
| Basic direction is set to LTR | ||
| No BIDI Filtering |
Field Label
| Length | Field Label | |
| Short | 10 | Intr u/s24 |
| Medium | 20 | Ded.-Interest u/s 24 |
| Long | 33 | Deduction towards Interest u/s 24 |
| Heading | 5 | Int24 |
Documentation
Definition
Deduction towards interest under Section 24 is allowed irrespective of house being rented out or not.
If the property is acquired or constructed with borrowed capital,
- On or before April 1, 1999
A maximum deduction of Rs. 30,000 is allowed towards interest, under Section 24.
- On or after April 1, 1999
- With effect from April 2000 - If the house is acquired or construction is completed before April 1, 2001, then a maximum deduction of Rs. 75,000 per annum is allowed towards interest under Section 24. If the acquisition or construction is completed before April 1, 2003, then a maximum deduction of Rs. 1,00,000 per annum is allowed,towards interest, under Section 24.
- With effect from April 2001 - If the house is acquired or construction is completed before April 1, 2003, then a maximum deduction of Rs. 1,50,000 per annum is allowed towards interest, under Section 24.
- With effect from April 2002 - If the house is acquired or construction is completed within three years from the end of the financial year in which the capital was borrowed, then a maximum deduction of Rs. 1,50,000 per annum is allowed towards interest, under Section 24.
Note
If you want to maintain the deduction towards interest under Section 80EE, you must do the same in the House Loan Interest Deduction U/S 80EE field of Section 80 Deductions (0585) infotype.
History
| Last changed by/on | SAP | 20031111 |
| SAP Release Created in |
