House property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 December 2010
i have a query. interest on house property taken in P&L but not disallowed in ITR. And in ITR interest is also deducted limit Rs. 150000/-. Return shuld have to revise but can this house is shown as a business asset but depreciation is not claimed. Can House property shown as a Business asset and depreciation should claim to avoid taxes ??
Please reply......
Please reply......
22 December 2010
any Let Out House Treat as HP property and charged under HP only and Standard Deduction allowed @30% u/s24(a)
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