house property deductions
This query is : Resolved
Neelam Lalwani
(Querist)
21 April 2011
sir
if a person is owner of 2 house property and had taken loan for both can he claim deduction for interest paid on both loans subject to the limit of 150000??
if a person is owner of 2 house property and had taken loan for both can he claim deduction for interest paid on both loans subject to the limit of 150000??
21 April 2011
Dear Neelam
Yeah ,,,,, he can get deduction for both house .
Dear Neelam
Yeah ,,,,, he can get deduction for both house .
Message likes :
1 times
Rahul Vora
(Expert)
23 April 2011
Definitely, that person can claim deduction for interest paid on both loans. But, one of the house will have to be considered as deemed to be let out and rent income is to be calculated and taken as "Income from House Property". There will be no limit of Rs.150000/- on interest deduction on this house property house.
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
- 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
- ITC not to be taken in accounts & GSTR-3B
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
