Interest on sold property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 September 2012
is interest on housing loan allowed as deductipn after property is sold.and is it allowed when property is destroyed by fire
21 September 2012
sir, if you purchased/constructed any property it should be hyphothicate with the loan provider so you should be clear the loan before sell it because to release such hypothication and has to register on the name of the purchaser.So no question of interest paid after the sale of property. So interest paid is should be related to the period for which house property holds. So allowable.
In the case of destroyed by fire also allowable because owner ship of the property and barrower is important.
OM SAI SRI SAI JAI JAI SAI
In the case of destroyed by fire also allowable because owner ship of the property and barrower is important.
OM SAI SRI SAI JAI JAI SAI
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 September 2012
under which section is it allowed.interest is paid during the yaer till it is sold in december and bank loan is settled.wil it be considered under self occupied or let out property
21 September 2012
In case keep it self occupied then consider as self occupied. otherwise in case you let out it then consider as let out property.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Multiple trade mark
- Transporter Declaration form
- Regarding TDS Applicability For Director Remuneration
- LC charges in relation to Asset purchased should be Capitalised ?
- Value of property in capital gain
- Regarding appeal to GSTAT
- Copyright software
- Invoice V/S Goods receipt Note Date
- Form 121 & TDS deduction
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
