House property vacancy
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 February 2014
hi friends
my client have a house property which is vacant for the whole year.. can he claim deduction of whole interest paid i.e., around 3 lacs.. and he have 3 houses.. pls give me statutory compliance also
my client have a house property which is vacant for the whole year.. can he claim deduction of whole interest paid i.e., around 3 lacs.. and he have 3 houses.. pls give me statutory compliance also
28 February 2014
Out of 3, House Properties, 2 shall be treated as deemed let out, for the purpose of Income Tax Act, 1961.
By considering Deemed Let out HP ( for which you have paid interest of Rs.3 Lacs), you can claim entire Interest u/s. 24.
By considering Deemed Let out HP ( for which you have paid interest of Rs.3 Lacs), you can claim entire Interest u/s. 24.
28 February 2014
Out of 3, House Properties, 2 shall be treated as deemed let out, for the purpose of Income Tax Act, 1961.
By considering Deemed Let out HP ( for which you have paid interest of Rs.3 Lacs), you can claim entire Interest u/s. 24.
By considering Deemed Let out HP ( for which you have paid interest of Rs.3 Lacs), you can claim entire Interest u/s. 24.
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 February 2014
i heard that there is not concept such as deemed to be let out in IT act.. we have the concept of deemed to be self occupied.. so can you pls help on deemed to be let out if any with the provisions of IT act or case laws
01 March 2014
please refer sub-sections 2,3,4 of the Section 23 of the Income tax act 1961
04 March 2014
there is no concept of deemed to be self occupied but deemed to be let out.
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
- 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.
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- GST Regis.
- Tds on building rent monthly
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- 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?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
