Interest on house property

This query is : Resolved

Share Report Follow Query Ask a Query

Srishti Shetty

Srishti Shetty (Querist)
Follow

29 October 2014 Can we claim interest paid on loan acquired for purchase of a Commercial property(shop) u/s 24b?

Prakash Kochar

Prakash Kochar (Expert)
Follow

29 October 2014 Interest paid on loan will be allowable under Business head, not u/s. 24.

Message likes : 1 times

ANIL KUMAR

ANIL KUMAR (Expert)
Follow

30 October 2014 If you earn rental income from this property you can claim interest u/s 24 otherwise , Prakash Kochar jee very rightly replied

Message likes : 1 times

Srishti Shetty

Srishti Shetty (Querist)
Follow

03 November 2014 What if the assessee does get any rental income and doesn't have any income under Business or Profession?Can't he claim any deduction?
Or do we treat the Shop as a DLOP ,show a notional rent and claim the interest?

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

03 November 2014 if the property is not being used for commercial purposes by the assessee, the same shall be taxed under house property only.

you will offer the same to tax as Deemed let out.

Message likes : 1 times

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

17 December 2014 use of property shal decide its taxability as said by nikhil.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA.Pinank Arvindbhai Shah

Nayan shetty

madhu sudan

velichety.l.narasimharao

SANJAY GOSALIA

Subscribe Now

Interest on house property

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA