House property deductions
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 July 2013
If house property is sold within (a)3 years and (b)if sold within 5 years
When deductions claimed under sec 24(b) of interest payment and sec 80C of housing repayment reversed are reversed?
When deductions claimed under sec 24(b) of interest payment and sec 80C of housing repayment reversed are reversed?
12 August 2013
1. Deduction in respect of interest shall NOT be reversed in any case.
2. If house property is transferred within 5 years, then the TOTAL amount of principal repayment allowed as deduction shall be deemed to be the income of the year for the year in which the house is sold.
2. If house property is transferred within 5 years, then the TOTAL amount of principal repayment allowed as deduction shall be deemed to be the income of the year for the year in which the house is sold.
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
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- Applicability
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Offsetting interest income against derivative trading losses
- Application of 115BAC
- RCM - commercial rent paid to URP under GST
- Gst Sales of FY 2023-24
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- TDS NUMBER SURRENDER
- DELIVERY BY CREDITOR
- Cgst and Sgst liability set off
- Doubt in Form AOC 4
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- 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
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
