Calculations of house property income
This query is : Resolved
12 August 2015
Dear All,
Greetings for the day ...
I have query, where an individual has two housing loan. His one house is self occupied and another is just vacant, not given on rental.
Can he avail exemption on both the loans . Someone has suggested that to take benefit of other 2nd loan, he has to show income from that property.
Please guide me in this matter
12 August 2015
When someone has 2 house than he can show only 1 house as self occupied and other should show as rented.
When 1 house which is show as rented is vacant in whole year than its annual value can be taken as Zero.
you can avail exemption on both the loan.
You can claim maximum interest Rs. 2 lakh in case of self occupied property
When 1 house which is show as rented is vacant in whole year than its annual value can be taken as Zero.
you can avail exemption on both the loan.
You can claim maximum interest Rs. 2 lakh in case of self occupied property
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Tax on Deemed Capital Gain
- Booth for sales promotion
- Regarding ITR filing with more value than showing in AIS/TIS
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
