Interest deduction on home loan
This query is : Resolved
26 August 2013
One of my friend is living in a company provided flat and hence not receiving HRA. Now he is buying a flat in his name in the same city in which he is presently situated. Can he claim deduction in income tax for interest paid on home loan taken ? Here it must be noted that even after buying the flat he will continue living in company's accomodation. In my opinion there is no problem in claiming the deduction. I just want to be sure if i'm correct or not.
Pls help.
Pls help.
26 August 2013
Yes, you can claim interest on housing loan deduction u/s24(b) but if you earning any income from such house(i.e let out) then you also have to offer rental income for tax purpose.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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26 August 2013
Thanks sir.
No he is not earning any rental income on it, i.e the flat is kept unoccupied where he go n stay during weekends.
No he is not earning any rental income on it, i.e the flat is kept unoccupied where he go n stay during weekends.
26 August 2013
I.e he also using it for his self use only. I.e not given for rent. So shall be consider it as self occupied property and claim deduction u/s 24(b) upto Maximum of Rs.1,50,000/-
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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26 August 2013
Sir, is there any rebate in Registration fees on registration of the flat if a female is a co-holder of the same (in West Bengal)?.
26 August 2013
I am from Andhra pradesh so i didn't have any idea regarding West Bengal registration charges etc..
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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