Sale of house return of income tax benefits
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 December 2011
I purchased a house in Sep 2009 and took benefit of income tax deduction for interest paid for 2 years.
Now I want to sale the house property.
Do I have to return the income tax benefit of deduction of interest paid on house property.
Now I want to sale the house property.
Do I have to return the income tax benefit of deduction of interest paid on house property.
11 December 2011
Interest benefit is not required to be returned. In case, Deduction U/s 80C has been claimed , it has to be added in your income in case the property is sold before the prescribed period of 5 years.
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