28 February 2014
hi friends my client have a house property which is vacant for the whole year.. can he claim deduction of whole interest paid i.e., around 3 lacs.. and he have 3 houses.. pls give me statutory compliance also
28 February 2014
Out of 3, House Properties, 2 shall be treated as deemed let out, for the purpose of Income Tax Act, 1961.
By considering Deemed Let out HP ( for which you have paid interest of Rs.3 Lacs), you can claim entire Interest u/s. 24.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
28 February 2014
i heard that there is not concept such as deemed to be let out in IT act.. we have the concept of deemed to be self occupied.. so can you pls help on deemed to be let out if any with the provisions of IT act or case laws