selling of let out house property
This query is : Resolved
31 July 2010
Can A Assessee sell his Let-out house property for which from past two years he is claiming interest for loan borrowed (and still he has not settled the loan & still paying the interest) u/s.24 ??? If he sells will there be any reversal of interest( Deduction claimed
31 July 2010
no reversal of interest needed.. however it is to be noted tat watever principal deduction is claimed u/s 80C and the house is sold within 5 years then the deduction so claimed shall be deemed income in the year of sale
31 July 2010
Also it there is loan on this flat then the bank will not let u sell the house without u repaying the home.
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?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- 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
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
