Loss of income Under head House Property for unfinished project acquired by NBCC
This query is : Resolved
08 July 2023
Dear Sir
Good day
I had booked an office in the name of my wife with Amrapali Group project "AMARPALI TECHPARK"in Greater Noida in the year 2008 .
I was assured at 12% return on my investment of 550 square foot area I was getting returns as per agreement after deduction of 10%TDS till the year 2016 .
Amrapali went bankrupt and now the project has been acquired by NBCC and still incomplete and I have not received a single penny after 2016.
As per the agreement I was supposed to get an income of Rs 37per square foot for an are of 550 sq.ft.
Can I claim LOSS OF INCOME UNDER THE HEADS PROPERTY in my wife's income tax return??
We have never claimed any loss of income since 2016 from this property.
My wife is working and she's filing ITR-1
Please advise if I can show this loss of income in ITR-1
Thanks andbest regards
Arvinder Singh
Good day
I had booked an office in the name of my wife with Amrapali Group project "AMARPALI TECHPARK"in Greater Noida in the year 2008 .
I was assured at 12% return on my investment of 550 square foot area I was getting returns as per agreement after deduction of 10%TDS till the year 2016 .
Amrapali went bankrupt and now the project has been acquired by NBCC and still incomplete and I have not received a single penny after 2016.
As per the agreement I was supposed to get an income of Rs 37per square foot for an are of 550 sq.ft.
Can I claim LOSS OF INCOME UNDER THE HEADS PROPERTY in my wife's income tax return??
We have never claimed any loss of income since 2016 from this property.
My wife is working and she's filing ITR-1
Please advise if I can show this loss of income in ITR-1
Thanks andbest regards
Arvinder Singh
08 July 2023
Such loss of income can't be claimed under income from house property head.
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
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Putting a heading on received mail
- Consolidated financials
- Reprocessing of rectification order AY 2025-26
- Section 50-fixed asset-->building ceases to exist
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- TDS on TRUST
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
