How & when you get rebate of h loan & rent both
This query is : Resolved
13 October 2011
If some one has taken property at mira road & taken Housing loan. he is staying on rent at andheri can he claim both?
Pl provide if any circular for clarification
Abhilash
Pl provide if any circular for clarification
Abhilash
13 October 2011
Yes he can claim both.
13 October 2011
Case 1:
if the "Loan House" is within 30 km radius from the work location, then u can't claim both the benefits directly.
However, indirectly you can show that you are staying on rent and for your convenience you better stay in a rented property near yr work area, and given your "Loan House" on rent to Mr XYZ on monthly rent of Rs.1000/-. So, You will show 8000 rent paid per month, 1000 rent received per month + your House loan benefits.
Case 2 :
If your Loan Property is located at more than 30 km radius, then you can directly claim both the benefits.
if the "Loan House" is within 30 km radius from the work location, then u can't claim both the benefits directly.
However, indirectly you can show that you are staying on rent and for your convenience you better stay in a rented property near yr work area, and given your "Loan House" on rent to Mr XYZ on monthly rent of Rs.1000/-. So, You will show 8000 rent paid per month, 1000 rent received per month + your House loan benefits.
Case 2 :
If your Loan Property is located at more than 30 km radius, then you can directly claim both the benefits.
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
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- GST ON EXPORT COMMISSION
- RCM INVOICING FROM NOV-2024
- Tds on building rent monthly
- Disallowance of Section 43B(h) to sez units
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- 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
CAclubindia
