Can interest on Housing Loan be shown as deduction under Income from House Property(self occupied) if,house property & unpaid balance amount of Housing Loan are shown in the Balance Sheet of an individual assessee? Can Housing Loan being a personal loan & not for the business be shown in the Balance Sheet? If shown is it right to claim deduction of interest under Income from House Property head?
Menu
Housing loan shown in the balance sheet of individal assesse
Replies (4)
@ Roysto
even if u r showing housing loan in your books of accounts u can show it as personal property if it is so,
by not taking , in your P&L A/c, diduction for
1 depreciation on the said house property and
2 interest on said loan.
Is it possible to claim deduction under sec. 80 C for repayment of principal amount in that case?
u can refer to....
/forum/analysis-of-housing-loan-sec-80c-and-24b--136402.asp
I have a cloth business, I am taking a housing loan on 1-12-2019. on 31-03-2020 balance is 1500000/- does such an amount will show in the balance sheet or not. what about repayment of principal and interest?
Recent Topics :
- How do CA firms manage pending client documents du
- How to find a good CA
- Rcm on rent paid
- Clarify on GST Application
- Residential status for overseas students visitin
- Capital Gains Tax
- LTCG 112A and business loss
- FAST-DS 2026 applicability: foreign employee share
- NRI Property Sale in India: TDS Rates and Key Comp
- Clarification on September 2026 PF Calculation for
Related Topics :
CAclubindia
