Details of income tax exemption on second house

This query is : Resolved

pruthvi (Querist)
Follow

16 December 2013 I have purchased a second house in this fy . The loan is also been sanctioned this year itself. Is the stamp and registration fees paid to govt exempted from taxable income and under what rule.

What is the limit of tax exemption for interest paid for home loan for second house when first property is let out and declared as income from house property.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

16 December 2013 its an expense. How will it be exempted from income. You can include it in the cost of acquisition.

each and every property is treated separately. if the second property is also let out then no limitation on interest claim. self occupied property shall have limit of Rs 1.5 lakhs per annum.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

17 December 2013 Only for sop has exemption restiction for int on loan amount upto 1.5 lakhs.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

18 December 2013 Tushar Bhai,

you keep flummoxing me. Yeh 2 lakh kahan se aa gaya ab? under which section?

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

19 December 2013 oh. so you modified your comment itself..

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Akhila Ajayan

siddhesh satardekar

shreesh acharya

Amit Singh

Pushkar Nagda

Subscribe Now

Details of income tax exemption on second house

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA