Mortgage Loan
This query is : Resolved
13 July 2011
Dear Sir,
if I have taken a Mortgage loan against my house, what is the treatment in the income tax on loan re-payment and its intrest.
if I have taken a Mortgage loan against my house, what is the treatment in the income tax on loan re-payment and its intrest.
13 July 2011
It is not treated as housing loan if you have not taken loan for the purpose of purchase, construction or repairs of the house.
n case you have given loans and receiving interest you may get deducted the interest
against it. Otherwise, debit your capital account and do not claim it.
n case you have given loans and receiving interest you may get deducted the interest
against it. Otherwise, debit your capital account and do not claim it.
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
- Suggestions required for income tax filing-software (FY 2025-26)
- Tax liability on income of freelancer
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Taxation on LTCG for property sold after 24JUL2024
- 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
