Income tax (house property)
This query is : Resolved
07 September 2012
In income from house property,when house property is self occupied,
1) maximum deduction can be Rs 1,50,000 only,right?
2) if its constructed before 1.4.99 then the deduction can not exceed 30,000?
3) if its constructed after 1.4.99 then it will be 1,50,00?
And is this deduction given every year or just once?
Income tax is driving me crazy. VAT and ST are cakewalk.
Anyhow,thanks in advance!:)
1) maximum deduction can be Rs 1,50,000 only,right?
2) if its constructed before 1.4.99 then the deduction can not exceed 30,000?
3) if its constructed after 1.4.99 then it will be 1,50,00?
And is this deduction given every year or just once?
Income tax is driving me crazy. VAT and ST are cakewalk.
Anyhow,thanks in advance!:)
CA Ilayaraja
(Expert)
07 September 2012
Deduction is available for every year untill you repay the loan fully..... I think it clarifies ur doubt.
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