Interest on housing loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 March 2013
can I get a deduction for interest payed overseas on a house I purchased abroad.
CA Suraj Lakhotia
(Expert)
15 March 2013
The Madras High Court in CIT v.
Venugopala Reddiar [1965] 58 ITR 439 observed that while computing taxable income,
no distinction should be made between a house property situated in India and a house
property situated abroad.
In veiw of above you would get all benefits u/s 24.
Venugopala Reddiar [1965] 58 ITR 439 observed that while computing taxable income,
no distinction should be made between a house property situated in India and a house
property situated abroad.
In veiw of above you would get all benefits u/s 24.
Santosh Mishra
(Expert)
15 March 2013
Agree with Mr Suraj.
Income tax allow deduction for municipal tax paid to any authority outside India. It means there is no restriction for HL deduction for a property situated outside India.
Income tax allow deduction for municipal tax paid to any authority outside India. It means there is no restriction for HL deduction for a property situated outside India.
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