3 house property
This query is : Resolved
23 January 2014
My Cliant purchase 3 house respectivly
1st house 2010-11=P-20000/- Int.36000/-
2nd house 2011-12=P-25000/- Int.40000/-
3rd house 2012-13-60000/- int.80000/-
i can show interest amount up to 1.5 lakh & principal in 80c can posible
1st house 2010-11=P-20000/- Int.36000/-
2nd house 2011-12=P-25000/- Int.40000/-
3rd house 2012-13-60000/- int.80000/-
i can show interest amount up to 1.5 lakh & principal in 80c can posible
24 January 2014
Yes! It is possible to get deduction in respect of multiple house properties
25 January 2014
Thank you sir---1.query sir cliant show the 3 house int.total up to 1.5 lakh & principal as per 80C but 1 house there resident & other 2 house on the basis of rent,than compulsory show the income of rent for rebate of Interest & principal.
25 January 2014
Yes Sopan! You have to show rent compulsarily
25 January 2014
ok sir but suppose in case 1 house issued to relative for resident free off rent, can show this house interest & principal in my income tax deduction without received rent shown.
27 January 2014
No, a standard rent shall be charged in your ITR irrespective of the fact that you have not received any actual rent
27 January 2014
Ok Sir
1] I Can Use ITR-1 & Show Rent Income in Heading- Income from House Property
2]Full rebate Int.1.5 Lakh & Principal as 80c
Correct sir, Please Reply
1] I Can Use ITR-1 & Show Rent Income in Heading- Income from House Property
2]Full rebate Int.1.5 Lakh & Principal as 80c
Correct sir, Please Reply
27 January 2014
yes! you are right
ITR1
ITR1
27 January 2014
Thanks Sir,
1]sir, I can rebate of Interest & Principal starting from first installment home loan
2]when construction in bal. process i can rebate of interest & principal
please reply
1]sir, I can rebate of Interest & Principal starting from first installment home loan
2]when construction in bal. process i can rebate of interest & principal
please reply
27 January 2014
you can claim deduction of principal amt u/s 80C at stretch but deduction of interest for the per-construction period has to be claimed in 5 equal installments starting from the year in which construction gets completed.
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