Sir
Can i claim the full pre-acquisition interest portion in the year of acquisition of house property subject to the limit of Rs.150000/- instead of 5 instalments?
Shiva
4 Replies
DHARMENDER
(PCC)
(28 Points)
Replied 20 September 2008
| Originally posted by :K SIVARAMAN | ||
| " | Sir Can i claim the full pre-acquisition interest portion in the year of acquisition of house property subject to the limit of Rs.150000/- instead of 5 instalments? Shiva |
" |
HELLO,
IF YOU HAVE A SALARIED PERSON , OR THER ASSESSES THEN YOU TAKE THIS DEDUCTION U/S 80 C
IF YOU TAKE DEDUCTION 80 C THEN YOU CLAIM RS 100000/- OTHERWISE YOU HAVE INCOME FROM HOUSE PROPERTY THEN YOU TAKE DEDUCTION U/S 24 (ii) FOR RESIDENTIAL HOUSE YOU CAN TAKE MAX-150000/- IN A YEAR. OTHER WISE FOR TANENT YOU CAN DEDUCTION U.S 24(ii) WHOSE AMOUNT YOU PAY INT. ON HOUSE LOAN (ALL WILL BE FULLY DUDCTED FROM YOUR HOUSE PROPERTY INCOME.
DHARMENDER
(PCC)
(28 Points)
Replied 20 September 2008
| Originally posted by :Guest | ||
| " |
SORRY SIR, IN THE PRE- EQUISITION PERIOD YOU HAVE PAY INTEREST , YOU CAN CLAIM ONLY 5 INSTALMENT. IF YOUR INTEREST RS 750000 (IN 5 INSTALMENT THEN YOU CAN CLAIM U/S 24 (ii) OTHER WISE YOU TAKE ONLY 30000/- IF YOU HAVE A SALARIED PERSON , OR THER ASSESSES THEN YOU TAKE THIS DEDUCTION U/S 80 C |
" |
Recent Topics
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
- Where can I find a trusted provider to hire a skip
- GST Invoices Series
- FILING OF ITR AY 20-21
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
Related Threads
CAclubindia
