Int on loan on property
This query is : Resolved
20 January 2011
Dear Sir,
If two Individuals are having one property on bank loan, one of them is female & other one is senior citizen male. What should be the effect on int on loan, in the statement of income of both. Secondly if the instalment of loan is paid from the senior citizen's a/c, for the same he is getting rent on the same property. what should be the effect of the same in the both's statement of income. Whether we give the effect of int. on loan in senior citizen's statement as it relfects in his bank a/c only.
If two Individuals are having one property on bank loan, one of them is female & other one is senior citizen male. What should be the effect on int on loan, in the statement of income of both. Secondly if the instalment of loan is paid from the senior citizen's a/c, for the same he is getting rent on the same property. what should be the effect of the same in the both's statement of income. Whether we give the effect of int. on loan in senior citizen's statement as it relfects in his bank a/c only.
20 January 2011
Yes.. only Sr. Citizen will get the intt benefit, it will be limited to a proportionate amount as his ownership in the property.
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
- HSN Details in IFF/GSTR-1 & in GSTR 9
- Refund of AY 22-23
- Tax on capital gains revoked us 54f
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Inventory of finished goods
- TDR receipts for agreement holder
- Applicability of Ind As to associate of associate
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Disallowance of Section 43B(h) to sez units
- Confusion around Form 26QB fields
- GST REFUND ON EXPORT EXPENSES OF EXEMPTED GOODS
- GSTR9 and 9c
- Ineligible ITC taken
- Vivad se vishwas scheme 2024 new
- 115TD on cancellation of 12A 80G Registration
- MIS MATCH OF INVOICE NUMBER
- 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
