Hi Friends,
A person is a service engineer , his income is professional receipt around annually 500000. Last 2 years who have prepared ITR , he has not charged depreciation on fixed assets & didnt claim interest& principal amount on houseproperty u/s 80c & 24B. & another thing not shown flat amount on assets side & loan against said flat on liabilities side. but now i want to claim in f.y. 2008-2009 on interest & principal amount in computation , not to show in balancesheet both said things. & i want to charge depreciation also.
Can I claim this above things?? without shown in balancesheet directly on computation?
Thanks & regards
Aruna Thakur
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Can I claim Houseproperty interesthisyear ,if notclaimed l.Y
Replies (4)
U can not claim Depriciation.
U can claim interest and principal payment as deduction for the F.Y. 2008-09 as any interest and principal payment of housing loan can be claimed but u cannot claim any depreciation of fixed assets without showing it into the books.
U can claim interest paid on house loan u/s 24b, and Principal paid against the loan u/s 80C but you cant claim Depreciation on the house / flat u/s 32 of the IT ACT.
U can claim interest paid on housing loan during the f.y. u/s 24b, and Principal paid against the loan during the f.y. u/s 80C but you cant claim Depreciation on the house / flat u/s 32 of the IT ACT.
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