Section 24 of itr
This query is : Resolved
19 August 2011
Intrest on housing loan comes uder sec 24 and max limit is 1.5 L.
But if the possession of property is not with us then what will be the tratment ???
Suppose we had puchase a house on loan and house is under construction and builder will give the possessiion after two year and my EMI starts.
In that case what will be tratment of Intrest ??
But if the possession of property is not with us then what will be the tratment ???
Suppose we had puchase a house on loan and house is under construction and builder will give the possessiion after two year and my EMI starts.
In that case what will be tratment of Intrest ??
19 August 2011
1.5 is for self occupied propoerty.
If the property is let out then there is no limit for the same.
If the property is let out then there is no limit for the same.
Message likes :
1 times
19 August 2011
If property is not in the possession (here literary meaning only is considered for want of full details)) of the assessee, there is no income under the head 'income from house property' meaning there by assessee can't take the advantage of expenses in relation thereto including section 24 benefit.
Message likes :
1 times
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
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Sale of Equity shares for Purchase of Residential Property
- ECO SUPPLY REPORTIONG IN GSTR-1
- Internship/Academic shown in Salary Pay Slip of a Doctor
- Refund of 20%pre-deposit paid for stay application
- Payment to foreign customer
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
