income from house property
This query is : Resolved
Nagaraj SV
(Querist)
07 April 2008
will it be heplful for the assessee to claim interest on house property without actually paying it ?
Late CA Sampat Jain
(Expert)
07 April 2008
Interest accrued on amount borrowed and invested in house property is to be considered for deduction . Payment may be at a later date.
07 April 2008
WHY NOT? IT IS ALLOWED.
LOSS ON HOUSE PROPERTY ARRIVED AFTER DEDUCTING INT. ON HOME LOAN( AND OTHER APPLICABLE DEDUCTIONS) FROM ALL LENDERS ( BANKS/OTHERS), WILL HELP REDUCE ONE'S TAXABLE INCOME AND TAX LIABILITY.
R.V.RAO
LOSS ON HOUSE PROPERTY ARRIVED AFTER DEDUCTING INT. ON HOME LOAN( AND OTHER APPLICABLE DEDUCTIONS) FROM ALL LENDERS ( BANKS/OTHERS), WILL HELP REDUCE ONE'S TAXABLE INCOME AND TAX LIABILITY.
R.V.RAO
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