House property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 August 2012
Dear Sir,
I have a house im mumbai which is self occupied by me .it was purchased by me by taking loan in the 1999 &already claimed interest &principal.But now i also constructed a house in kerala by taking loan which is still under construction & it is about to finish. i started this construction in 2011 & also took loan in 2011 it self,so Can i claim preconstruction interest/interest amount & principal amount under 80c. If i cant claim deduction please specify the reason & suggest me a way for claiming that interest & principal amount.I think you will consider my points &do the needful
Thank You.
I have a house im mumbai which is self occupied by me .it was purchased by me by taking loan in the 1999 &already claimed interest &principal.But now i also constructed a house in kerala by taking loan which is still under construction & it is about to finish. i started this construction in 2011 & also took loan in 2011 it self,so Can i claim preconstruction interest/interest amount & principal amount under 80c. If i cant claim deduction please specify the reason & suggest me a way for claiming that interest & principal amount.I think you will consider my points &do the needful
Thank You.
13 August 2012
1. The pre-construction period interest is allowed as deduction u/s 24 in 5 equal instalments from the year in which the construction is completed.
Deduction is NOT allowed if the house is still under construction.
2. Principal amount shall be allowed as deduction u/s 80C even if the construction is not complete.
Deduction is NOT allowed if the house is still under construction.
2. Principal amount shall be allowed as deduction u/s 80C even if the construction is not complete.
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
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- ITDS U/S.194T of Firm
- ADVANCE PAYMENT OF ADVOCATE
- NRI starting business in India
- GST not cancelled by tenant
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- Invertaded duty struture
- FORM 141 SDV query
- Eway bill not cancelled within 24 hous what can be due
- REGARDING ANNUAL RETURNS FILLINGS OF A COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- CREDIT NOTES WITHOUT GST
- Taxable or Tax exempt
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
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
