House rent
This query is : Resolved
02 June 2012
i bought a house on loan and staying in it, as the IT rule says that You show the rent for a house and get all the interest paid as non taxable . can i do the following?
the same house in which i am staying with my wife, is rented to my wife and collect rent from her. declre all the rent and getthe benefit of all the interest paind on loan as non taxable?
the same house in which i am staying with my wife, is rented to my wife and collect rent from her. declre all the rent and getthe benefit of all the interest paind on loan as non taxable?
Ca Anand Dubey
(Expert)
02 June 2012
yes you can give rent to your wife
03 June 2012
still i am not clear ,
i am asking tht can i show that i have given the present self occupied house on rent to my wife,and collect rent. declare th rent and get all the interes paid on laon as non taxable
i am asking tht can i show that i have given the present self occupied house on rent to my wife,and collect rent. declare th rent and get all the interes paid on laon as non taxable
CA PARAS BAFNA
(Expert)
03 June 2012
You can show the Rental Income by showing the Property as Let Out Property.
.
The fact that tenant whether allows you to stay with her, does not change the character of property from being it a let out property.
.
You can claim entire interest amount payable on housing loan taken for this let out property.
.
.
The fact that tenant whether allows you to stay with her, does not change the character of property from being it a let out property.
.
You can claim entire interest amount payable on housing loan taken for this let out property.
.
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- EPF ECR NEW RULES Sep 17th 2026
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- 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
CAclubindia
