Interest on House Property
This query is : Resolved
14 July 2011
Dear Sir,
I had filed ITR electronically of my client (female assessee) showing salary income, one flat's rent income & second flat's loss from house property.But i got assessment order in that order dept has not considered the interest amount. can an owner of 2 flats get the benefit of loss from house property? if yes please write the case law if any decided previously.
Illustration:
salary 290400/
add: Rent 42000/-
Total 332400/-
Less : Interest on loan
113865/-
Balance 218535/-
Savings 29427/-
Taxable income 189108/-
Tax NIL ( Female Assessee)
Sir, am i right ???pls advise
I had filed ITR electronically of my client (female assessee) showing salary income, one flat's rent income & second flat's loss from house property.But i got assessment order in that order dept has not considered the interest amount. can an owner of 2 flats get the benefit of loss from house property? if yes please write the case law if any decided previously.
Illustration:
salary 290400/
add: Rent 42000/-
Total 332400/-
Less : Interest on loan
113865/-
Balance 218535/-
Savings 29427/-
Taxable income 189108/-
Tax NIL ( Female Assessee)
Sir, am i right ???pls advise
14 July 2011
One Let out Property : Rent Recd
One Self occupied : Interest paid
What you have done is correct and Legal.
It seems that there is error in assessment order,
Please File a Rectification letter under Section 154 to the Concerned IT Officer,, you will succeed , no case law is needed, just mention the facts,,
One Self occupied : Interest paid
What you have done is correct and Legal.
It seems that there is error in assessment order,
Please File a Rectification letter under Section 154 to the Concerned IT Officer,, you will succeed , no case law is needed, just mention the facts,,
14 July 2011
Rectification may be filed electronically since original return is being e-filed.
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?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Tds on building rent monthly
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- Confusion around Form 26QB fields
- 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
