Interest on home lone
This query is : Resolved
k.b.nagesharao
(Querist)
12 February 2018
we have taken housing loan from the bank. till march-2017 we have recd rent and adjusted the interest on housing loan. but the same building was leased out for 3 years in the month of june-2017. My doubt is shell we claim the interest from rent recd on other property.Kindly treat this as urgent and give your valuable advise in this regard
Thanks in advance
K.B.Nagesha Rao
9448826793
Thanks in advance
K.B.Nagesha Rao
9448826793
CA S K MISHRA
(Expert)
12 February 2018
Interest on loan taken for a property to be adjusted first from the income of same property. The unadjusted interest can be adjusted against income from other property also.
k.b.nagesharao
(Querist)
12 February 2018
my doubt is shall we show any notional income as the property was leased out and not getting any income. thanks
Dhirajlal Rambhia
(Expert)
21 October 2021
Yes, if you already have any other SOP.
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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- MSME disclosure and disallowance
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
