Section 24b - Deduction under Income from House Property
This query is : Resolved
06 September 2008
Details as follows:
01/01/05 - Loan taken from employer of 5 lac for construction of house for self.
01/07/07 - Loan taken from uncle for 7 lac to repay 6 lac to employer along with cumulative interest and balance 1 lac to deploy for construction of flat.
01/07/08 - Flat got ready. Two days later paid 7.7 lac to uncle along with interest and closed all loan a/c.
So now for FY08, assessee can claim how much deduction u/s 24B as pre construction + post construction.
01/01/05 - Loan taken from employer of 5 lac for construction of house for self.
01/07/07 - Loan taken from uncle for 7 lac to repay 6 lac to employer along with cumulative interest and balance 1 lac to deploy for construction of flat.
01/07/08 - Flat got ready. Two days later paid 7.7 lac to uncle along with interest and closed all loan a/c.
So now for FY08, assessee can claim how much deduction u/s 24B as pre construction + post construction.
15 November 2008
Pre construction Ineterest : Entire Interest paid to Employer and also interest accrued for payment to Uncle till 31/03/2008.
Post construction interest: Interest accrued and paid to Uncle from 01.04.2008 till the date of repayment of loan.
Post construction interest: Interest accrued and paid to Uncle from 01.04.2008 till the date of repayment of loan.
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
- Off Market debit and credit transaction
- Itr 1 processing
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Showing Gift from relative in ITR for this year
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR 1: Details for showing Exempt Income
- ITR returnFY25-26
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR selection for salaries and capital gain less than L
- NRE Interest Income applicability
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Query regarding TDS on EPFO Higher Pension Arrears*
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- 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
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
