Rules reg income fro housse proprety-sec 24 of it act

This query is : Resolved

MK BALAKRISHNAN (Querist)
Follow

11 October 2012 I had filed Returns for AY2011-12 claiming Exemption from Interest on Borrowed Capital for a New Flat purchased at my workplace with Loanfrom a reputed Housing Company, in Sep 2010&self occupied(EMI Repayment Started in october)to the tune of Rs 79000 &also Interest on Loan for extension of an old house ownedat Native Place,jointly by me &wife(occupied by wife) anmonting to Rs10000. Total Interest claimed is Rs 89000.Why I claimed Interest on both the Properties was because the first Loan was fully repaid in Nov 2010&Interest benefit was claimed only upto october 2010,by which month alone the Interest On the New Flat Purchaed was accruing &claimed for IT exemption. Am in order in the exemption Claimed? kindly clarify
MKB Menon

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

11 October 2012 claiming 79000 interest on borrowed capital is justified. The rest of 10000 is not clear. Can you please clarify. Interest on housing loan for self occupied property can be claimed. Some where you are saying loan for extension.... please clarify

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

DHANASHRI KARMARKAR

CA Aakarsh Jain

Michael & Co.

divakar podaturu

sachingurav

Subscribe Now

Rules reg income fro housse proprety-sec 24 of it act

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA