This Query has 3 replies
Facts
1. The property is in the name of Mr.X
2.The property is leased to Mr. X's company and Mr.X stays there under Lease agreement with Mrs.X
3. The Rental is paid in the name of Mrs X with Form 16A TDS deduction.
4. House property Income is assessed in the name of Mrs.X with deduction being taken for Interest on Housing loan sanctioned in Both Mr.X and Mrs.X's name.
Can the Interest on Housing loan paid be claimed by Mrs.X.
This Query has 2 replies
Sir/Madam,
We found that, During the previous period Service Tax element was wrongly debited to Expenditure account. Thus the Expenditure was wronly booked.
Now can we rectify the Expenditure by Crediting the amount to Exps account and Debiting to the Service Tax Receivable account?
Can we take Input Service Tax Credit for this amount in current year?
Please suggest taking into account all the implecations ie in regards to Income Tax and the Service Tax Angles.
Please let me know the provisions in this regards.
Regards,
Abhijit Pimple
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Hello,
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