Housing loan tax benefit
This query is : Resolved
25 September 2014
If Mr.x and Mrs. x had borrowed a housing loan of rs.1 crore jointly for construction of self occupied house.if in A.Y.2014-15 they paid Rs.400000/- as a principal amount and Rs.500000/- as a interest respectively 50 % from their accounts then what is the amount eligible for deduction u/s 24 and 80 C for both the persons..?
25 September 2014
if both are borrowers then both shall be allowed under respective itr.
25 September 2014
max Rs 1.5 lakhs each under 80C and Rs 2 lakhs each under 24b
26 September 2014
no, for sop int shall be max 1.5 lakhs for husband n 1.5 lakhs to wife will be allowed.
27 September 2014
Yes for AY 2014-15 it shall be Rs 1.5 lakhs and Rs 2 lakhs from thereafter as per amendments under Finance Act 2014
30 September 2014
Agrred but kiran have specifically asked for AY 14-15
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
- ITC availability for BOLERO-HILUX (HIGH AT, M1G) HLXX0
- TDS DEMAND.
- 139(4) for ITR-5- audit
- Joint Account Closure
- TDS-Fixed assets
- RCM PAID ON RENT IN RESTAURANT BUSINESS @ GST RATE 5%
- Registartion of trust
- Are reflected in 2B in GST portal
- TDS can We Adjust 194C Amount to 194J
- Advice on How to calculate the peak balance needed for schedule FA in India for US checking account?
- TDS OR GST APPLICABLITY
- FORM SPL-02
- Complication in generating GSTR-2B
- Assesee supply services in RCM, above 2 crores turnover, is he applicable to file Gstr9
- Sale of liquidated company
- How to calculate tax as Income & Tax Calculator on e-Filing website is giving wrong results.
- Updation of UDIN for ROC forms AOC-4 and MGT-7
- Invoices not transmitted to ICEGATE because of non-authentication of Aadhaar
- Classification of unclassified authorised capital
- GST registration
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert14 February 2025 -
Survey, Search and Seizure under Income Tax Act 1961
CA Hari Agarwal
CAclubindia
