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INTEREST PAID ON SELF OCCUPIED HOUSING PROPERTY

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 March 2011 THE PERSON HAS SOLD SELF OCCUPIED PROPERTY WITHIN FIVE YEARS HENCE INTEREST CLAIMED IN TOTAL INCOME IN PAST WILL BE ADDED BACK TO TO CURRENT INCOME OR OLD RETURN WILL BE REVISED
P N SABADRA
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
07 March 2011 Interest claimed will not be recomputed. Interest will not be disallowed.


Deductions claimed in earlier years U/s 80C will, only, be treated as income in the year of sale.

No need to revise or recompute the income.

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CA. Lohith Jagadeesh

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CA. Lohith Jagadeesh (Expert)
11 March 2011 Hi,

Agreed with Expert

Regards
CA.Lohith.J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
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