Interest on Housing Loan and for rented property-Ay 2019-20
This query is : Resolved
31 July 2020
Dear expert
Brief: For Ay 2018-19- Person have taken Property On housing Loan, Earlier he was taking Benefit of interest paid on Housing Loan u/s 24 and Principle payment under 80C .
Query- In Ay 2019-20, he has rented this property, still paying his housing Loan with interest and principle. Can he get the benefit of such interest and principle payment for ay 2019-20
Where this rented income can shown to income from other sources, or any other treatment.
Thanking you for your valuable time
Brief: For Ay 2018-19- Person have taken Property On housing Loan, Earlier he was taking Benefit of interest paid on Housing Loan u/s 24 and Principle payment under 80C .
Query- In Ay 2019-20, he has rented this property, still paying his housing Loan with interest and principle. Can he get the benefit of such interest and principle payment for ay 2019-20
Where this rented income can shown to income from other sources, or any other treatment.
Thanking you for your valuable time
31 July 2020
Yes, he can get the benefit of such interest and principle payment for ay 2019-20. Show the rental income under income from house property.
01 August 2020
But sir , while we select the option in ITR self occupied property , the option of let out property get freez, so not able to fill the details of rental income.
Pls advice
Pls advice
01 August 2020
Choose option in ITR rental property.
01 August 2020
thnks for reply sir, but if i select rental property in itr-1 for salary employee..then option for Interest paid on loan for house property get freez, then i am not able to fill the interest amt.
Pls advice
Pls advice
01 August 2020
File online ITR 1 it will be allowed.
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
- Soyabean hsn code and gst rate
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Treatment of Pension ?annuity returns on PMVY
- Free lancer income
- What is provisional receipt number for generation of form 16A
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- TDS related Query_Liquidated Damages
- Form 27Q Correction statement taking too long to update on IT Portal
- NON- SUBMISSION OF LLP FORM 3
- Regarding IMS Mandatory from 1st July 2026
- GSTR-4 Annual Return ! Pending Returns for F.Y. 20-21 to 22-23
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- Showing Gift from relative in ITR for this year
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
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
