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House property

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 August 2011 kindly suggest me about that last question..

Why it is showing current year loss...in computation...Is it right.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
19 August 2011 Yes, when the Net annual value. such as your rental income after adjustment of Municipal taxes and standard deduction is less than the interest amount paid (this is in case of let out property) this is called current year loss only

Incase of self occupied property Net annual value is zero and deduction of interest from that is called current yeas loss only
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