Housing loan interest - treatment
This query is : Resolved
09 June 2009
Pls. let me know the treatment of interest paid on housing loan under following circumstances.
1. Self occupied property (office & house - in different cities)
2. Self occupied property (office & house - in same city)
2. Let out property
3. Vacant property
Can an employer consider exemption of Rs. 1,50,000/- in salary computation or employee has to show loss from HP. It is whose responsibility ?
1. Self occupied property (office & house - in different cities)
2. Self occupied property (office & house - in same city)
2. Let out property
3. Vacant property
Can an employer consider exemption of Rs. 1,50,000/- in salary computation or employee has to show loss from HP. It is whose responsibility ?
09 June 2009
1. Self occupied property (office & house - in different cities)
office- aloowed as business exp.
house- allowed u/s 27(b) up to limit of Rs. 30000 /150000
2. Self occupied property (office & house - in same city)
office- aloowed as business exp.
house- allowed u/s 27(b) up to limit of Rs. 30000 /150000
2. Let out property
aloowed fully u/s 24(b)
3. Vacant property
such property shall be deemed to let out property 23(4)and aloowed fully u/s 24(b)
it is at employee discreation he may provide detail of loss from HP to his emplyer or he may himself adjust the amount while filing the return
office- aloowed as business exp.
house- allowed u/s 27(b) up to limit of Rs. 30000 /150000
2. Self occupied property (office & house - in same city)
office- aloowed as business exp.
house- allowed u/s 27(b) up to limit of Rs. 30000 /150000
2. Let out property
aloowed fully u/s 24(b)
3. Vacant property
such property shall be deemed to let out property 23(4)and aloowed fully u/s 24(b)
it is at employee discreation he may provide detail of loss from HP to his emplyer or he may himself adjust the amount while filing the return
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