house property query

1st - 24B me apko interest ki deduction milti hai.
2nd - there is no fix time limit for this.... but if you sell and you want to exempt your capital gains then there are time limits which we will discuss if you want

There is no time limit on sale of property taken on loan & for which you claim exemption u/s 24(B) & 80C.....

Vide Sub-sec 5(iii)(a) & (b) ... of Section 80C of IT act, 1961

dhirajal sir there was no need of posting this........

transfers the house property referred to in clause (xviii) of sub-section (2) before the expiry of five years from the end of the financial year in which possession of such property is obtained by him, or receives back, whether by way of refund or otherwise, any sum specified in that clause,
then,—
(a) no deduction shall be allowed to the assessee under sub-section (1) with reference to any of the sums, referred to in clauses (i), (x), (xi) and (xviii) of sub-section (2), paid in such previous year; and
(b) the aggregate amount of the deductions of income so allowed in respect of the previous year or years preceding such previous year, shall be deemed to be the income of the assessee of such previous year and shall be liable to tax in the assessment year relevant to such previous year.

Jai bhola you also not need to post this....

Dhirajlal sir is one of most experienced experts on caclub & he knows what he is posting......

what Dhiraj sir posted is most relevant to the query

dhiraj sir sorry , it was not to disrespect you......

Jai sir.. we too mentioned not to hurt your feelings.. we are like family..

sorry for everyone I like this application very much I am businessmen and now I am practise income tax so some person refer me this application rearly this application is very nice bcoz all the expert available and gives perfest and fast answer any question so thanks to all of ca club family

welcome Manish ji

Welcome to caclub Manishji.... It's a great platform for commerce learners....

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