A urgent query on advance tax working

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student
1263 Points Joined November 2010

Hello Everyone,

I had one more query ..

An assessee having a Demmed to be Let out Property For which he has 2,40,000  Interest on housing Loan so my question is that while Calculating ADVANCE TAX THE WORKING Of Salary Can we Take Rs. 2,40,000 or Rs. 1,50,000 (the basic limit) ..

 

thanks alot in advance ..!

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On 08 February 2013 at 13:01 Report
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CA CS
3064 Points Joined June 2009

Krina,

 

since its a DLOP, the treatment is same as a let out property...hence..there is no limit on the max interest deduction that you can avail of...

 

you can therefore take rs 240000

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On 08 February 2013 at 13:03


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