Query regarding hp
uma somani (student) (106 Points)
03 August 2013uma somani (student) (106 Points)
03 August 2013
CA. Kuldeep Singhi
(Entrepreneur)
(424 Points)
Replied 03 August 2013
Calculation of Income from House Property
A.Rent Received :52000*12 = 624000
B.Less: Tax Paid = 5000
C.Less:Standard Deduction = 30%(A-B) = 185700
D.Less:Interest on Borrowed Amount = 168000
Income from House Property = 265300
uma somani
(student)
(106 Points)
Replied 03 August 2013
CA. Kuldeep Singhi
(Entrepreneur)
(424 Points)
Replied 03 August 2013
Ooh Sorry for that I didnt saw that fact
Calculation of Income from House Property
A.Rent Received :52000
B.Less: Tax Paid :5000
C.Less:Standard Deduction = 30%(A-B) = 14100
D.Less:Interest on Borrowed Amount = 168000
Loss under the head House Property = 135100
Mihir
(Wealth Manager)
(5293 Points)
Replied 04 August 2013
Interest on borrowing cannot exceed Rs. 150,000/-
CA. Kuldeep Singhi
(Entrepreneur)
(424 Points)
Replied 04 August 2013