IT REBATE AT SOURCE FOR SECOND HOME LOAN
This query is : Resolved
08 April 2009
I have first housing loan for which I am claiming rebate at source.
My question is, if i take second home loan now, will the amount of interest paid to Bank after deduction of rent income be eligible for tax rebate at source?
Should my company consider this and give me appropriate rebate while calculating the taxable income? Or do I have to claim this rebate while filing my returns?
In case if it is while calculating my salary then what all papers i need to give to my company? kolgesandeep@yahoo.com
My question is, if i take second home loan now, will the amount of interest paid to Bank after deduction of rent income be eligible for tax rebate at source?
Should my company consider this and give me appropriate rebate while calculating the taxable income? Or do I have to claim this rebate while filing my returns?
In case if it is while calculating my salary then what all papers i need to give to my company? kolgesandeep@yahoo.com
08 April 2009
Assuming that the second house is given on rent, you yourself will have to claim the full interest (without any limit) from the rent and also 30% towards repairs. Your company should not consider this.
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
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- Accounting with Claude
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
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
