Deduction under 80c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 April 2013
A person has bought an apartment on loan. the possession of the apartment will be given after three years as it is still under construction. the loan repayment made alongwith the interest during these three years , will he able to claim any tax benefit either under 80c or under income from HOP
11 April 2013
dear you can take benefit of principle repayment of loan to bank during the year in which it is paid.. irrespective whether the construction of the house has been completed or not..
but you can take benefit of interest paid during the construction period only after getting the house constructed till then you have to capitalized it under the head pre- construction period interest.
but you can take benefit of interest paid during the construction period only after getting the house constructed till then you have to capitalized it under the head pre- construction period interest.
Message likes :
1 times
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
- Reporting Income under Section 44ADA
- ITR 2 Short Term gain & Long term gain
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR 1: Details for showing Exempt Income
- ITR validation error - Balance sheet is not filled
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
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
