Dedcution u/s 24(b) for loan
This query is : Resolved
13 February 2013
Sir
My client is residing in a self owned house. Last year he took a loan from bank & constructed another residential property which is lying vacant. Please tell me whether he is eligible for deduction of Interest u/s 24(b) for 2nd house ?
My client is residing in a self owned house. Last year he took a loan from bank & constructed another residential property which is lying vacant. Please tell me whether he is eligible for deduction of Interest u/s 24(b) for 2nd house ?
13 February 2013
Yes he will be eligible to take the deduction but only if the House property is eligible for charge under Income from house property
and the assessee has to charge one house as SOP and another as DLO
and the assessee has to charge one house as SOP and another as DLO
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- RCM INVOICING FROM NOV-2024
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
