banner_ad

Interest on House Property

This query is : Resolved 
Profile Image

Profile Image

(Querist)
14 July 2011 Dear Sir,
I had filed ITR electronically of my client (female assessee) showing salary income, one flat's rent income & second flat's loss from house property.But i got assessment order in that order dept has not considered the interest amount. can an owner of 2 flats get the benefit of loss from house property? if yes please write the case law if any decided previously.
Illustration:
salary 290400/

add: Rent 42000/-

Total 332400/-
Less : Interest on loan
113865/-
Balance 218535/-
Savings 29427/-
Taxable income 189108/-
Tax NIL ( Female Assessee)



Sir, am i right ???pls advise
Profile Image

Ravikant

Profile Image

Ravikant (Expert)
14 July 2011 One Let out Property : Rent Recd
One Self occupied : Interest paid

What you have done is correct and Legal.

It seems that there is error in assessment order,

Please File a Rectification letter under Section 154 to the Concerned IT Officer,, you will succeed , no case law is needed, just mention the facts,,
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
14 July 2011 Rectification may be filed electronically since original return is being e-filed.
Profile Image

Ravikant

Profile Image

Ravikant (Expert)
14 July 2011 agreed,,,,,,
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details