House property deductions
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 July 2013
If house property is sold within (a)3 years and (b)if sold within 5 years
When deductions claimed under sec 24(b) of interest payment and sec 80C of housing repayment reversed are reversed?
When deductions claimed under sec 24(b) of interest payment and sec 80C of housing repayment reversed are reversed?
12 August 2013
1. Deduction in respect of interest shall NOT be reversed in any case.
2. If house property is transferred within 5 years, then the TOTAL amount of principal repayment allowed as deduction shall be deemed to be the income of the year for the year in which the house is sold.
2. If house property is transferred within 5 years, then the TOTAL amount of principal repayment allowed as deduction shall be deemed to be the income of the year for the year in which the house is sold.
Message likes :
1 times
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
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Price inclusive or exclusive of GST while made entry in P& L Account
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Dep. as per companies act
- Minimum tax payable to file Updated return
- Applicability of GST on Salary Reimbursement Component
- TDS on purchase of under construction property from a reseller
- SALARY CAN BE CAPITALIZE
- UDIN ISSUE
- Gst registered proprietorship firm
- GST Intimation due to Government took possession of Business Premises under PPE Act
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
Quick Links
ARTICLESHIP
07 September 2026
Article/ Paid Assistant
Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
View Details
CCI
Pro
CAclubindia
