House property
This query is : Resolved
22 December 2013
Why interest on loan taken for construction of house Property is allowed as deduction on accrual basis and not payment basis since chance of assessee defaulting on payment of interest is also there?If he defaults in payment of interest then also he will get deduction for the same u/s 24? Isn't it illogical?
22 December 2013
Because income is also taken on notional basis in some cases in house property income..so applying matching concept it is logical.
22 December 2013
Still as a welfare major, Govt wants to continue it on accrual basis.
.
As a matter of fact, due to emotional attachment with a home we Indians are very careful.
.
Due to really a tough financial position, default in Housing Loan Repayment has been observed. But sooner or later the borrower clears the loan.
.
.
As a matter of fact, due to emotional attachment with a home we Indians are very careful.
.
Due to really a tough financial position, default in Housing Loan Repayment has been observed. But sooner or later the borrower clears the loan.
.
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
- Exiting partner in partnership firm in gst portal
- CLOSING STOCK QUERY
- Gst on travel by air for business purposes
- Banking Related Issue
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Loss of interest in PF transfer from EPFO to Trust
- Sale of Mutual Funds In Diffirent Financial Years
- Query regarding reporting of exempt foreign remuneration in ITR
- Taxability of credit in canara bank ET & T section (NRO)
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
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
