House Property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 July 2011
Can I Show a Residential Flat Partly let-out and partly Self-Occupied for taking benefit of interest deduction u/s 24 ?
If so,
How the calculation is to be made for self-occupied and Let-out part seperately.
If so,
How the calculation is to be made for self-occupied and Let-out part seperately.
CA PARAS BAFNA
(Expert)
10 July 2011
In respect of self occupied property, also you can avail deduction U/s 24 up to Rs 1.50lac in a previous year.
*
In case interest is substantially more than Rs. 1.50 lac the house may be let out completely.
*
Letting out partly of a house may create future problem when the loan will be paid off. As the same may be treated as comprising of 2 residential units and income in respect of another residential unit may be added to your income by treating it as deemed let out.
*
*
In case interest is substantially more than Rs. 1.50 lac the house may be let out completely.
*
Letting out partly of a house may create future problem when the loan will be paid off. As the same may be treated as comprising of 2 residential units and income in respect of another residential unit may be added to your income by treating it as deemed let out.
*
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
- Visiting card purchase
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Query on effect of registration of property
- GST on reimbursement of expenses
- Number of years as per AS amortisation of Goodwill
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Wrong CMPo8 file
- Additional trade name
- Whether output tax is taken credit by purchaser
- Equity Share Sale and Purchase
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
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
