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
K SIVARAMAN (ACCOUNTANT) (28 Points)
19 September 2008Sir
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
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 |
" |
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