Housing Loan Interest setoff - Reg
This query is : Resolved
Sundararajan G
(Querist)
10 March 2009
Dear Sir,
An individual resgined his employment and joined with a new employer. His place of new employment is different from that of his previous employment.
He availed housing loan and constructed a house at a place where he has been employed previously which was self occupied. The employee availed the benefit of set-off of the interest payment against his salary income.
The employee constructed a house at the new place by availing bank loan. The employee is wishing to avail the benefit of setting-off of the interest payment relating to the new house loan against his salary income. He also accepts to offer to tax the rent receipt of the old house.
Can he able to avail the benefit of interest on housing loan set-off relating to the new house? .
Kindly advise.
Regards,
Sundarajan
An individual resgined his employment and joined with a new employer. His place of new employment is different from that of his previous employment.
He availed housing loan and constructed a house at a place where he has been employed previously which was self occupied. The employee availed the benefit of set-off of the interest payment against his salary income.
The employee constructed a house at the new place by availing bank loan. The employee is wishing to avail the benefit of setting-off of the interest payment relating to the new house loan against his salary income. He also accepts to offer to tax the rent receipt of the old house.
Can he able to avail the benefit of interest on housing loan set-off relating to the new house? .
Kindly advise.
Regards,
Sundarajan
CA. MITHUN KHATRY
(Expert)
10 March 2009
yes
CA Nitin Wadhwani
(Expert)
10 March 2009
Yes.
Reetika Goel
(Expert)
14 March 2009
Yes he can...
Reason being, loss under the head house property can be set off against income under any head.
Reason being, loss under the head house property can be set off against income under any head.
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- MSME disclosure and disallowance
- 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
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- 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
