Easy Office
Easy Office

TAXATION ON HOUSE PROPERTY

This query is : Open 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
05 February 2010 IF A PERSON IS RESIDING IN A STATE OWNS A HOUSE IN THAT STATE ,ALSO A HOUSE IN DIFFERENT STATE THEN CAN HE TAKE DEDUCTION OF INTEREST AND PRINCIPAL ON BOTH THE HOUSES ?????
OR HE CAN ONLY TAKE THE INTEREST DEDUCTION????
Profile Image

Rahul Gupta

Profile Image

Rahul Gupta (Expert)
05 February 2010 A person can Claim Deduction on Principal Repayment and Interest paid for one house only, not affected by the location of the house.

So, interest deduction can be claimed under IFHP and principal repayment can also be claimed u/s 80C. However, it can be claimed only for ONE HOUSE, whereever it is located.
Profile Image

RD Verma

Profile Image

RD Verma (Expert)
05 February 2010 I agree with rahul point of deduction but Interest on housing loan can be claim any no. of house as per my view.
Upgrade to CAclubindia Pro. Subscribe Now!


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro

Trending Online Classes

view all classess


Answer Query



Quick Links