Urgent - deduction of interest u/s. 24(b)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 July 2012
Hello!!!!
If 12% is the interest rate of the housing loan taken.
Then 4% will be paid by employee and remaining 8% will be paid by employer which will be taxable as perquisite in the hands of employee.
Now my doubt is this 8% interest paid by employer which is treated as perquisites can be claimed by employee u/s. 24(b) under the head house property.
If 12% is the interest rate of the housing loan taken.
Then 4% will be paid by employee and remaining 8% will be paid by employer which will be taxable as perquisite in the hands of employee.
Now my doubt is this 8% interest paid by employer which is treated as perquisites can be claimed by employee u/s. 24(b) under the head house property.
06 July 2012
8% Interest (which is paid by employer) will be the taxable perquisite in the hands of employee. Total interest 12% can be claimed u/s.24(b)
For perquisite valuation Interest rate need to refer with SBI lending rates.
For perquisite valuation Interest rate need to refer with SBI lending rates.
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 July 2012
Thank you so much sir!!!!!
07 July 2012
yes, can be claimed full 12% under 24(2)even if paid only 4% out of total 12% interest, the balance 8% will be considered for perks calculation.
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