House property
This query is : Resolved
03 April 2014
helloz..
Plz guide me regarding taking deduction of Int on Housing Loan..and deduction of Principal Amt. For deduction of Principal Amt what should be considered??- as on date (respecive 31st march)outstanding Loan amt or Repaid principal Amt?
Plz guide me regarding taking deduction of Int on Housing Loan..and deduction of Principal Amt. For deduction of Principal Amt what should be considered??- as on date (respecive 31st march)outstanding Loan amt or Repaid principal Amt?
03 April 2014
Hi Sonal,
Interest on housing loan is allowed as deduction as under,
--If property is not let out, deduction
allowable upto Rs.1,50,000 p.a.
--If property is let out, then any amount
paid as interest is allowable as deduction
Principal amount of loan is allowalbe u/s 80C (i.e. upto Rs.1,00,000)
Principal amount of loan which is repaid during the year is allowable as deduction.
Regards,
Devanand
Interest on housing loan is allowed as deduction as under,
--If property is not let out, deduction
allowable upto Rs.1,50,000 p.a.
--If property is let out, then any amount
paid as interest is allowable as deduction
Principal amount of loan is allowalbe u/s 80C (i.e. upto Rs.1,00,000)
Principal amount of loan which is repaid during the year is allowable as deduction.
Regards,
Devanand
Message likes :
1 times
03 April 2014
Thank you..Devanand Sir..
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
- Supply through E-commerce Operators
- STCG....................................................
- TAN for Partnership
- Sales return eway bill
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- STCG FOR GOLD ETFs
- LTCG for Assmt year 26-27
- Tax liability on income of freelancer
- E way bill for tractors
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- 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
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
