Interest on housing loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 July 2015
Dear Experts,
My boss has taken Home Loan for the property where he is now living. He is also having a Farm House. In FY 2014-15, he was living on rent and shown the Rental Income from the current property where he is now living and claimed the full Interest amount of HL. This year he has moved to this property and show the rental income from the Farm House.
My question is that can we club the rental income of one property with Interest on Housing loan of other property.
Br,
My boss has taken Home Loan for the property where he is now living. He is also having a Farm House. In FY 2014-15, he was living on rent and shown the Rental Income from the current property where he is now living and claimed the full Interest amount of HL. This year he has moved to this property and show the rental income from the Farm House.
My question is that can we club the rental income of one property with Interest on Housing loan of other property.
Br,
08 July 2015
rental income needs to be reduced by the amount of int on same
08 July 2015
IF YOU ARE SELF OCCUPIED HOUSE THEN LIMIT U/S 24 IS RS. 200000/
YOU CANNOT CALIM MORE THAN RS. 200000/-TWO LACS
YOU CANNOT CALIM MORE THAN RS. 200000/-TWO LACS
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 July 2015
I know the Limit of Interest exemption. My question is can we take the benefit of full interest amount for one property whether we are taking rental income from other 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?
- Refund of AY 22-23
- HSN Details in IFF/GSTR-1 & in GSTR 9
- TDR receipts for agreement holder
- Inventory of finished goods
- Confusion around Form 26QB fields
- Company Incorporation - CA and directors signing from different states
- Sale of property furniture sale
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Vivad se vishwas scheme 2024 new
- RCM on Advocate services by unregistered perosn
- MODEL FILLED AUDIT REPORT FOR TRUSTS IN FORM 10B
- 115TD on cancellation of 12A 80G Registration
- 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 ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
Trending Online Classes
CAclubindia
