Housing
This query is : Resolved
Anil Kumar Baliga
(Querist)
13 November 2012
FY 2011-12
i acquired a house at Mangalore part self funded and part loan. This is the only House i own. The house is let out on rent, An interest towards loan for fy 2011-12 is Rs 147500/- and total rent accrual for fy 2011-12 is Rs 117871/-, An fire insurance is paid for Rs 5730/- An property tax is paid for rs. 7500/-
what will be my exemptions from income tax u/s?
i acquired a house at Mangalore part self funded and part loan. This is the only House i own. The house is let out on rent, An interest towards loan for fy 2011-12 is Rs 147500/- and total rent accrual for fy 2011-12 is Rs 117871/-, An fire insurance is paid for Rs 5730/- An property tax is paid for rs. 7500/-
what will be my exemptions from income tax u/s?
Gayathri Devi
(Expert)
13 November 2012
Dear Sir
You can claim the property tax, interset on loan and principal amount paid on loan can be claimed as deduction. interest claimed u/s 24 & principal amount u/s 80 C of the Income tax act,1961
You can claim the property tax, interset on loan and principal amount paid on loan can be claimed as deduction. interest claimed u/s 24 & principal amount u/s 80 C of the Income tax act,1961
Dhirajlal Rambhia
(Expert)
09 October 2021
Deduction of Rs. 37871/- u/s. 24(b)...
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