int on home loan
This query is : Resolved
24 March 2009
hello everyone
if a home loan is taken by the employee from its employer bank and int charged to employee is less than charged to any normal a customer of the bank.
1)rebate in int is to be treated as perk in the hand of employee.is it correct.
2)whether he can claim the deduction for int on loan. he has acquired home with the amt of loan but till date has not paid any installment for the same.amt of int is accruing in his loan account..
pl. suggest
thanks in advance
if a home loan is taken by the employee from its employer bank and int charged to employee is less than charged to any normal a customer of the bank.
1)rebate in int is to be treated as perk in the hand of employee.is it correct.
2)whether he can claim the deduction for int on loan. he has acquired home with the amt of loan but till date has not paid any installment for the same.amt of int is accruing in his loan account..
pl. suggest
thanks in advance
24 March 2009
1. Yes, that is treated as perq u/17(2).
2. Yes, deduction will be allowed u/s 24(b). interest is allowed on accruing basis not on payment basis.
2. Yes, deduction will be allowed u/s 24(b). interest is allowed on accruing basis not on payment basis.
24 March 2009
1. That is perq u/s 17(2) and taxable.
2. Interest can be claimed u/s 24(b). Deduction can be claimed on accruing basis not on payment basis.
2. Interest can be claimed u/s 24(b). Deduction can be claimed on accruing basis not on payment basis.
24 March 2009
1. That is perq u/s 17(2) and taxable.
2. Interest can be claimed u/s 24(b). Deduction can be claimed on accruing basis not on payment basis.
2. Interest can be claimed u/s 24(b). Deduction can be claimed on accruing basis not on payment basis.
24 March 2009
1. That is perq u/s 17(2) and taxable.
2. Interest can be claimed u/s 24(b). Deduction can be claimed on accruing basis not on payment basis.
2. Interest can be claimed u/s 24(b). Deduction can be claimed on accruing basis not on payment basis.
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
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- LC charges in relation to Asset purchased should be Capitalised ?
- Annual return in Gst
- Transporter Declaration form
- Regarding TDS Applicability For Director Remuneration
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
