House property
This query is : Resolved
Querist : Anonymous
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.
Why it is showing current year loss...in computation...Is it right.
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
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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