banner_ad

Income from house property

This query is : Resolved 
Profile Image

Profile Image

(Querist)
07 June 2013 Sir, My wife employed in Public Sector u/t is having three residential buildings in her name in the same town, which are all let out. She is staying with me in my own house. During 2012-13 she repaid HL availed from her office Principal:Rs.178327/- and int.Rs.69,843/-.She availed another HL during the same year and repaid Principal:Rs.27813/- and Int.Rs.117602/-.(for 2013-14 the repayments will be Rs.59357/- towards principal and Rs.202819/- towards int.)How to show the income/loss on house property for the years 2012-12 and 2013-14.
Profile Image

TKKKKKK

Profile Image

TKKKKKK (Expert)
07 June 2013 for 12-13 show three houses' rent income less municipal taxes paid less standard deduction at 30% less 69843 interest. similar treatment for 13-14. Your wife can get deduction of 117602 interest.She can also avail deduction u/s 80c for loan principal repayment upto 100000
Profile Image

CA Kapil Verma

Profile Image

CA Kapil Verma (Expert)
07 June 2013 principal repayment will be deducted under 80C subject to ceiling limit of 1 lac.

and interest will be deducted in Section 24(b)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
11 May 2026
CA Dropout

Patron Accounting LLP

Pune

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details