Exemption of housing loan interest
This query is : Resolved
16 May 2012
Dear All,
If i had rent out my house then the whole interest will be exempt, or in both the cases (rent out & self occupied) maximum limit is 150000
If i had rent out my house then the whole interest will be exempt, or in both the cases (rent out & self occupied) maximum limit is 150000
16 May 2012
In case of let out property, entire interest payable is deductible U/s 24 on capital borrowed for the construction /purchase of the property. You may deduct Interest against the Net Annual Value of the property and the amount remaining unadjusted , can be set off against any income of the current year under other heads .
.
Rs. 150000/-limit is for self occupied property.
.
.
Rs. 150000/-limit is for 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
- Refund Annexure-B
- House Property Reporting in ITR
- TDS Claim year
- Liable to deduct tds and 44ADA
- TDS Challan Code
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Refund of 20%pre-deposit paid for stay application
- Two seprate Invoice needed
- CCFS 2026 Schemed
- 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
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
