Income from house property
This query is : Resolved
17 November 2009
Hi Expert, if i have income to have let out my house... what is the deduction available under section 24 for the FY 2009-2010 ?
17 November 2009
Under section 24, following two deductions available-
(a) Standard deduction @30% of net annual value irrespective of any expenditure incurred by taxpayer
(b) Interest ( maximum Rs.1.5 lacs ) on capital borrowed for acquiring or constructing the house. If the capital borrowed is for repairs/renovation then the max ceiling is Rs.30000/- ( and not Rs.1.5 lacs)
CA Amitabh Gupta
Indore
09893276187
(a) Standard deduction @30% of net annual value irrespective of any expenditure incurred by taxpayer
(b) Interest ( maximum Rs.1.5 lacs ) on capital borrowed for acquiring or constructing the house. If the capital borrowed is for repairs/renovation then the max ceiling is Rs.30000/- ( and not Rs.1.5 lacs)
CA Amitabh Gupta
Indore
09893276187
17 November 2009
Thanks a lot Mr Gupta ji for your help...
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
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- 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
