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house property interest🏨
what are the conditions for availing interest deduction u/s 24(b) in case construction completed after loan was taken?
Replies (13)
pre construction interest is allowed as a deduction in 5 equal installments from the year prior to the year construction is complete.
from the year the construction is complete you will get deduction of pre construction interest and the yearly interest subject to overall deduction of RS.2 lacs.
you will also get deduction under 80C upto 150000 for principal paid. you need to produce a certificate from van for interest and principle deduction to be availed
from the year the construction is complete you will get deduction of pre construction interest and the yearly interest subject to overall deduction of RS.2 lacs.
you will also get deduction under 80C upto 150000 for principal paid. you need to produce a certificate from van for interest and principle deduction to be availed
but I think 2L only available in case of house property self occupied..
no for let out property also it is the same as provisions are changed
ohhkk I wasn't aware as I've Nov 2019 attempt
how shall Gross annual value be decided in case let out and vacant ?
how shall Gross annual value be decided in case let out and vacant ?
In case of let out
GAV=rent received
(-) property tax when paid
=NAV
GAV=rent received
(-) property tax when paid
=NAV
arey this I know 🤦
I was asking about how shall GAV be decided where expected value is given buy let out is for less than 12 months and remaining month is vacant
I was asking about how shall GAV be decided where expected value is given buy let out is for less than 12 months and remaining month is vacant
isme do scenario aate hai
case 1.when Actual rent is more than the expected rent
GAV =Higher of expected rent or Actual rent received or receivable
case 1.when Actual rent is more than the expected rent
GAV =Higher of expected rent or Actual rent received or receivable
agar vacancy se actual rent expected rent se kam hai to
GAv= Lower of
expected rent or Actual rent
so we have to bring expected rent to same proportional months as actual rent in case 2
?
?
no expected full year Ka hi lenge
actual rent jitne tym rent pe tha ghar
actual rent jitne tym rent pe tha ghar
you can search GAv in case when house is vacant for the part of the year
than u can see no of examples given by taxadda etc website.
Thanks a lot and in advance for future also🙂
it's my pleasure dear.God bless u. 😊😊
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