House Property
This query is : Resolved
04 February 2011
Dear Expert,
One person is staying outside Delhi for Job purposes. Hence claiming HRA.
He has two house in Delhi. Out of which one house is treated as deemed to be self occupied. Therefore Annual Value is treated as NIL.
Other house is obtained on loan. Though it was remain vacant but can be treated as deemed to be let out and Annual Value is what is Rent Receivale. Out of that Loan interest is deductable and the net loss out of that house is adjustable aganist salary income.
Am I correct?
Thanks,
CS Siddhartha Banik
Dear Expert,
One person is staying outside Delhi for Job purposes. Hence claiming HRA.
He has two house in Delhi. Out of which one house is treated as deemed to be self occupied. Therefore Annual Value is treated as NIL.
Other house is obtained on loan. Though it was remain vacant but can be treated as deemed to be let out and Annual Value is what is Rent Receivale. Out of that Loan interest is deductable and the net loss out of that house is adjustable aganist salary income.
Am I correct?
Thanks,
CS Siddhartha Banik
04 February 2011
Set off is permitted as a corollary to section 71 (2A) of the Income tax Act,1961.
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
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR returnFY25-26
- ITR 1: Details for showing Exempt Income
- ITR selection for salaries and capital gain less than L
- ITR 2 Short Term gain & Long term gain
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Reporting Income under Section 44ADA
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- Tax liability on income of freelancer
- E Commerce GSTR1 & 3B how to file
- 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
