Treatment of Interest on Home Loan- If home sold
This query is : Resolved
17 January 2009
Dear All,
An Employee has claimed till date Interest on home loan and repayment of Home loan. Now in December ,he sold this home. Now what treatment , we have to do.
Now he submitted Rent Slip on December onwards for HRA Exemption.
Please suggest what treatment we have to do.
CA. B.K.BANSAL
An Employee has claimed till date Interest on home loan and repayment of Home loan. Now in December ,he sold this home. Now what treatment , we have to do.
Now he submitted Rent Slip on December onwards for HRA Exemption.
Please suggest what treatment we have to do.
CA. B.K.BANSAL
K V Subba Rao
(Expert)
17 January 2009
House Loan:
Employer has take into consideration principal repayment (Sec 80C) and interest on house loan (getting into computation of loss from house property u/s 24) upto Dec, if requested to do so by Employee
HRA:
Employer has to take into consideration Rent receipt for working out taxable portion of HRA from Jan to Mar (All figures for three months only)
Employer has take into consideration principal repayment (Sec 80C) and interest on house loan (getting into computation of loss from house property u/s 24) upto Dec, if requested to do so by Employee
HRA:
Employer has to take into consideration Rent receipt for working out taxable portion of HRA from Jan to Mar (All figures for three months only)
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