house property
This query is : Resolved
25 April 2010
incase of self occupied house property sec 23(2), max amt on interest can be deducted is Rs.1,50,000 if loan borrowed after 1-4-99 for construction. and Rs 30,000 for repairs or if loan taken before 1-4-99 for any purpose.
my Query is
What is the max amt of interest can be deducted if person takes two loan after 1-4-99 for construction and other loan for repairs.
if person takes loan in year f.y 2008-09 for contruction purpose and then in f.y 2009-10 for repairs. he pays interest on both loan in f.y 2009-10.which in more than 1,50,000 and 30,000
CAN HE TAKE 1,50,000 + 30,0000= 1,80,000 AS INTEREST???
my Query is
What is the max amt of interest can be deducted if person takes two loan after 1-4-99 for construction and other loan for repairs.
if person takes loan in year f.y 2008-09 for contruction purpose and then in f.y 2009-10 for repairs. he pays interest on both loan in f.y 2009-10.which in more than 1,50,000 and 30,000
CAN HE TAKE 1,50,000 + 30,0000= 1,80,000 AS INTEREST???
27 April 2010
Hi,
One can claim interest upto Rs.1,50,000 during the financial year and this is the maximum limit as specified in the section.
So you can not claim interest more than 1,50,000.
WITH REGARDS,
C.A.NISHIT DOSHI
One can claim interest upto Rs.1,50,000 during the financial year and this is the maximum limit as specified in the section.
So you can not claim interest more than 1,50,000.
WITH REGARDS,
C.A.NISHIT DOSHI
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
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Should I report my US salary for January, February, March in Schedule FA?
- GST ON EXPORT COMMISSION
- Sale of property furniture sale
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- 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 ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
