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Income tax house property

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Studying
128 Points Posted on 22 March 2014
The construction of house was completed on 28.2.2013. Assessee taken loan of 10 Lac @ 12%p.a.Compute deduction for prev. Year if loan was taken on 1.5.2012. Plz solve this. Also i want to know that there is there any pre const. Period and plz explain how you solved it...
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On 22 March 2014 at 17:34 Report
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Head Of Department (Accounts & Finance)
1479 Points Posted on 22 March 2014
Dear as construction completed in Feb so, amount of interest paid before will be allowed in 5equal years.( 10lack*12%*10/12*1/5 will be allowed in current year) i hope answer is clear. Regards
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On 22 March 2014 at 17:38
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Studying
128 Points Posted on 22 March 2014
Thank you manoj sir for such a prompt reply but the answer given in book is 110000...So plz see once again..my book is girish ahuja A.Y 13-14
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On 22 March 2014 at 18:40
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Head Of Department (Accounts & Finance)
1479 Points Posted on 22 March 2014
Dear it is a total interest amont?? I think it is so calculated ( 10lacks*12%*10m/12m)+10,000 for march = 110000. But i have to see you full question so pm me. Regards
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On 22 March 2014 at 19:38


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