income from house property
This query is : Resolved
02 February 2009
Dear Members,
Please clarify the following matters.
1.if the income from house property is less than the interest paid, we have to take it as negative know.
2. The interest and Principal both together 1.50 lakhs is the exemption limit for the year or only interest part.
like 89k interest paid, receipt from house property 72k, and principal 717k paid during the year.
the negative income is -17k, and the exemption limit is upto this or 150k-72k = -78k. Please explain.
Thanks in advance.
Amar.
Please clarify the following matters.
1.if the income from house property is less than the interest paid, we have to take it as negative know.
2. The interest and Principal both together 1.50 lakhs is the exemption limit for the year or only interest part.
like 89k interest paid, receipt from house property 72k, and principal 717k paid during the year.
the negative income is -17k, and the exemption limit is upto this or 150k-72k = -78k. Please explain.
Thanks in advance.
Amar.
02 February 2009
1) Income from property can be -ve.
2) Maximum amount of Rs.1.50 laks is for interest alone.
2) Maximum amount of Rs.1.50 laks is for interest alone.
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
- CLOSING STOCK QUERY
- TDS _Long term Capital Gain ref.sec 214 Table 2
- CASH GIFT FROM BLOOD RELATIVE
- TDS offline utility
- Due Date Clarity
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Traces submitting correction statement error
- Gst on travel by air for business purposes
- Rent claimed on building given on permissive possession basis
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
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
