09 February 2024
Property purchased by the Private limited company through Bank loan. The company business is trading. So property rent comes under house property income. So Interest on loan can be deducted under rental income without any limits. My doubt is if house property income result in loss that can be deducted in income from business income of the company or not. For example If house property loss occurs for Rs.200000/- and company business income head results Rs.100000/-.Company net income results in loss Rs.100000/- is it right.
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