House property -loan taken
This query is : Resolved
15 January 2013
I HAVE TAKEN LOAN FROM CO-OPERATIVE BANK FOR CONSTRUCTING A ROOM IN PLACE OF CAR GARAGE IN JAN 2013 & CONSTRUCTION OF ROOM WILL BE COMPLETED IN MARCH 2013
WHEN DEDUCTIONS WILL BE CLAIMED?
1} IF REPAYMENT STARTS IN MARCH 2013
2} IF REPAYMENT STARTS FROM APRIL 2013
WHEN DEDUCTIONS WILL BE CLAIMED?
1} IF REPAYMENT STARTS IN MARCH 2013
2} IF REPAYMENT STARTS FROM APRIL 2013
15 January 2013
Total installment paid during the preceeding year will be allowed to you under different heads of Income.
1) Interest portion upto Rs.1,50,000 p.a. will be allowed as deduction under Income from House property.
+
2) Principal amount paid shall be allowed under sec.80C Deductions.
Regards,
CA Ashish Joshi
Contact : 9998001183
1) Interest portion upto Rs.1,50,000 p.a. will be allowed as deduction under Income from House property.
+
2) Principal amount paid shall be allowed under sec.80C Deductions.
Regards,
CA Ashish Joshi
Contact : 9998001183
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 194-T applicability
- Tds on commission charges
- GST ITC REVERSE
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Applicability of GST on Salary Reimbursement Component
- Need Professional Opinion AY 2012-13 Old Demand
- Withdrawal in cash from partners capital account by partner
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- New GST registration for new place of business.
- Regarding Applicability of Tax Audit u/s 44AB
- 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?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- 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
Featured
11 September 2026
Audit Executive
RBSM Corporate Advisors Private Limited
Pune
CA
View Details
ARTICLESHIP
01 September 2026
Articles
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Foundation
View Details
ARTICLESHIP
07 September 2026
Article/ Paid Assistant
Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
View Details
CCI
Pro
CAclubindia
