Income from House property
Querist : Anonymous
is the benfit can be given by employer as in the case of self occuiped house.
regards
if the self-occupied property is acquired or constructed or repaired from borrowed funds, interest payable on such funds upto Rs 1,50,000 per annum is allowed as deduction. Interest on borrowed capital for repairs is allowable as deduction upto Rs 30,000.
As we know that losses of house property can be set off with any other incomes like income from salaries,PGBP Capital gains and other sources and can also be carry forward up to 8 years.
In case the property is Self occupied he can be allowed the deduction up to Rs 30000 and if the loan is taken after 1.4.1999 the deduction is allowed up to Rs 1,50,000 but the overall deduction cannot exceed Rs 1,50,000.
in case of loss from SO property he can also set off with other incomes
Querist : Anonymous
Querist : Anonymous
Querist : Anonymous
is the benfit can be given by employer
Click here to login now
Similar Resolved Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
