Interest on Housing Loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 September 2010
Respected Experts,
When person has a house, and could not occupied the same due to his employement in some other city. What would be the amount of deduction admissible u/s 24(b)-, The same property is also not given on the rent, due to employement of his wife in the same city. can the interest on the smae be claimed more than Rs. 1,50,000- Kindly assist me in the same.
When person has a house, and could not occupied the same due to his employement in some other city. What would be the amount of deduction admissible u/s 24(b)-, The same property is also not given on the rent, due to employement of his wife in the same city. can the interest on the smae be claimed more than Rs. 1,50,000- Kindly assist me in the same.
01 September 2010
As per section 23(2)(b) read along with proviso's to section 24 (b) the said property is self occupied and hence maximum deduction for interest under section 24(b) will be Rs.30,000/Rs,1,50,000/- as the case may be.
Message likes :
1 times
01 September 2010
yes. it is allowed as per sec.23(2)(b)
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
- ITR 2 Short Term gain & Long term gain
- Itr 1 processing
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- ITR returnFY25-26
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR validation error - Balance sheet is not filled
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Bank Accounts in Balance Sheet for ITR 3
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
