Interest Paid on Loan borrowed for the purpose of Buy Prop
This query is : Resolved
12 September 2008
Property buy and let out on rent for commercial purpose.
Rent Income treated as Income from House Property. Is it correct ?
Total Interest Paid on borrowed capital is allowed from house property income or limit of Rs. 150000
Rent Income treated as Income from House Property. Is it correct ?
Total Interest Paid on borrowed capital is allowed from house property income or limit of Rs. 150000
12 September 2008
author : Pravin Kulkarni
Posted On : 9/12/2008 7:47:48 PM
Property buy and let out on rent for commercial purpose.
Rent Income treated as Income from House Property. Is it correct ?
Total Interest Paid on borrowed capital is allowed from house property income or limit of Rs. 150000
Expert : Jitender
Posted On : 9/12/2008 10:13:52 PM
limit is 150000 u/s 24.
Answer: If The Property is Let-Out There is No limit For Claiming Deduction of Interest.
Posted On : 9/12/2008 7:47:48 PM
Property buy and let out on rent for commercial purpose.
Rent Income treated as Income from House Property. Is it correct ?
Total Interest Paid on borrowed capital is allowed from house property income or limit of Rs. 150000
Expert : Jitender
Posted On : 9/12/2008 10:13:52 PM
limit is 150000 u/s 24.
Answer: If The Property is Let-Out There is No limit For Claiming Deduction of Interest.
13 September 2008
In case the property is let out then the whole of interest on the loan may be claimed as a deduction.
13 September 2008
I am fully agree with Mr. Ramesh and Nitin
13 September 2008
SORRY TO SAY ,FIRST ANSWER IS WRONG.
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
- Supply through E-commerce Operators
- Sales return eway bill
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Agriculture income or business income
- Loan by Partnership Firm
- Suggestions required for income tax filing-software (FY 2025-26)
- REGARDING GST LIABILITY/....
- STCG FOR GOLD ETFs
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- Specified Profession
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales amount in Gstr1
- CG after sale of flat
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
