House rent
This query is : Resolved
02 June 2012
i bought a house on loan and staying in it, as the IT rule says that You show the rent for a house and get all the interest paid as non taxable . can i do the following?
the same house in which i am staying with my wife, is rented to my wife and collect rent from her. declre all the rent and getthe benefit of all the interest paind on loan as non taxable?
the same house in which i am staying with my wife, is rented to my wife and collect rent from her. declre all the rent and getthe benefit of all the interest paind on loan as non taxable?
02 June 2012
yes you can give rent to your wife
03 June 2012
still i am not clear ,
i am asking tht can i show that i have given the present self occupied house on rent to my wife,and collect rent. declare th rent and get all the interes paid on laon as non taxable
i am asking tht can i show that i have given the present self occupied house on rent to my wife,and collect rent. declare th rent and get all the interes paid on laon as non taxable
03 June 2012
You can show the Rental Income by showing the Property as Let Out Property.
.
The fact that tenant whether allows you to stay with her, does not change the character of property from being it a let out property.
.
You can claim entire interest amount payable on housing loan taken for this let out property.
.
.
The fact that tenant whether allows you to stay with her, does not change the character of property from being it a let out property.
.
You can claim entire interest amount payable on housing loan taken for this let out property.
.
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
- Tax on capital gains revoked us 54f
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Inventory of finished goods
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Refund of AY 22-23
- Disallowance of Section 43B(h) to sez units
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Applicability of Ind As to associate of associate
- Filing of Form 10BB instead of Filing Form 10B
- Last year input claim shown in gstr9
- GST Registration Cancellation books of accounts asked by officer
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- HSN Details in IFF/GSTR-1 & in GSTR 9
- MIS MATCH OF INVOICE NUMBER
- 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
