house property
This query is : Resolved
Vijay Parmar
(Querist)
16 June 2010
my client have taken new house on loan. in loan statement principal component is = 0.00 interest component =0 and pre-emi interest = 65652/- can i deduct the pre-emi interest as a int. of self house property.
and 2nd question is. his old house can i consider as a deemed let out house?
and 2nd question is. his old house can i consider as a deemed let out house?
CA Vanesh Nadar
(Expert)
16 June 2010
Hi
1st What is the term pre-emi means. If the Certifiacte is avbl u can do so.
2nd No such need if we consider the 2nd House as Vacant and do not show it as SoP.
Regards,
vanesh
1st What is the term pre-emi means. If the Certifiacte is avbl u can do so.
2nd No such need if we consider the 2nd House as Vacant and do not show it as SoP.
Regards,
vanesh
CMA Ramesh Krishnan
(Expert)
16 June 2010
Pre EMI -Interest can be claimed after construction completed in 5 equal installment,
Having 2 houses you need to consider either one house deemed to let out
Having 2 houses you need to consider either one house deemed to let out
16 June 2010
Sometimes EMI is started after 6 month from date of taking loan. It is called moratorium period. Interest for pre-emi period will be allowed as normal interst.
It is your choice , which house you want to be let out.
In case of let out property, there is no limit of interet deduction like 150000/-.
It is your choice , which house you want to be let out.
In case of let out property, there is no limit of interet deduction like 150000/-.
16 June 2010
Please click on below link FOR DETAILED ANALYSIS OF HOME LOAN
https://www.themoneyquest.com/2009/04/home-loan-tax-benefits-deduction-80c.html
https://www.themoneyquest.com/2009/04/home-loan-tax-benefits-deduction-80c.html
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
- Gst registered proprietorship firm
- TDS Challan - change of FY 2025-26 to TY 2026-27
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- GST Intimation due to Government took possession of Business Premises under PPE Act
- TDS on Fixed Assets purchased
- SALARY CAN BE CAPITALIZE
- Non filing of I T Returns
- TDS on purchase of under construction property from a reseller
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
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
