House property tax
This query is : Resolved
06 December 2011
I have two houses in noida one house is self occupied and one on rent during the previous year i have recieved rent only for 5 months because the house was on rent only for 5 months which amounted Rs.20000. Interest paid on such house is Rs.200000. please explain the taxability
06 December 2011
You can Show Rental Income and claim 200000
, full year's interest as deduction. Loss arising due to this can be set off against income of the same previous year.
.
You have to show the rental income on the basis of certain criteria like, Fair Rent, or Municipal Valuation or Standard Rent, in case applicable. From such expected rent if rent shown on annual basis is less than the expected Rent on annual basis
, full year's interest as deduction. Loss arising due to this can be set off against income of the same previous year.
.
You have to show the rental income on the basis of certain criteria like, Fair Rent, or Municipal Valuation or Standard Rent, in case applicable. From such expected rent if rent shown on annual basis is less than the expected Rent on annual basis
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
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Putting a heading on received mail
- Reprocessing of rectification order AY 2025-26
- Consolidated financials
- Section 50-fixed asset-->building ceases to exist
- TDS on TRUST
- 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
- 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
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
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
