Interest paid on housing loan
This query is : Resolved
02 March 2021
Interest paid or payable for more than 2,00,000 can be claimed out of rental income
02 March 2021
1)For let out property, there is no upper limit for claiming interest. However, the overall loss one can claim under the head of House Property is restricted to Rs 2 lakh only. This Deduction can be claimed from the year in which construction of the house is completed.
2)Remaining loss can be carried forward to future years - 8 years in total. However, in these 8 years, it can only be set off from income from house property.
2)Remaining loss can be carried forward to future years - 8 years in total. However, in these 8 years, it can only be set off from income from house property.
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
- Post Office RD Interest
- Building and other construction workers welfare cess act 1996
- Bank Accounts in Balance Sheet for ITR 3
- ITR validation error - Balance sheet is not filled
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- Eway bill for machinery reparing
- TDS ON CASH WITHDRAWALS...
- Form 10BD Filling
- Registration as Authorised Representative of minor
- Change the gender in the registration of icai
- Lift replacement entries in housing society
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- 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
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
