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income from house property

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Nagaraj SV

Nagaraj SV (Querist)
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07 April 2008 will it be heplful for the assessee to claim interest on house property without actually paying it ?

Late CA Sampat Jain

Late CA Sampat Jain (Expert)
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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.

R.V.RAO

R.V.RAO (Expert)
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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

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