Housing loan
Querist : Anonymous
i got two home loans. details as follows:
[1] Rs. 8.50Lacs for purchase 1 flat
at my native place. prop. is only in my name.
year of purchase 2009
[2] Rs. 20Lacs for purchase of 1 flat fro both name (husband & wife) for living at mumbai. my wife is also working. (total payment given from my OD account)
pl advice as per repayment deduction.
Querist : Anonymous
On First Loan you will get the deduction under Section 80C for repayment of Principal Amount upto Rs 1.00 Lakh and for interest upto Rs 1.50 in one assessment year
On Second Loan there will deduction bifurcated between you and your spouse as per ownership ratio but overall sealing limit will apply for both of Separately.
Click here to login now
Similar Resolved Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Fixed Deposit Claim Relinquishment by the Nominee
- Defective Return - Tds on advance
- Income Type for interest from government bonds
- TCS ON SOFTWARE SALES
- Not a CA , can we prepare balance sheet
- Valuation of diamonds as on 01.04.2001
- What is meaning of merging of expenses or income in accounts
- Accounting treatment of write off sundry debtors
- Gstr 9 2023-24
- GSTR-9 HSN Summary and Credit Note without item
- 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
- GST RCM not shown in GSTR-3B
- Bill from Dispatched from issue.
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
