Housing loan interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 April 2012
Can a employer give the exemption to his employee of interest on Housing Loan for 2 property including one of them is Self Occupied Property while computing the total income for the year?
20 April 2012
As for Section 24 deduction, on your self occupied house you can take advantage of interest payments up to Rs.1,50,000. For the other property, you can claim actual interest repaid, there is no limit for the same.
Please remember that the second house will be deemed have rental income and interest will be adjusted against that.
Please remember that the second house will be deemed have rental income and interest will be adjusted against that.
20 April 2012
As per Sec 192, an employee can give declaration to employer relating to his income from house property based on which the employer will deduct TDS.
As explained by expert, if u have more than 1 HP, u need to declare which one is SO and which one is LO and DLOP.
As explained by expert, if u have more than 1 HP, u need to declare which one is SO and which one is LO and DLOP.
20 April 2012
The experts are correct and I agree with them
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
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Can partnership firm show income under 44ad
- Regarding ITR filing with more value than showing in AIS/TIS
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
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
