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Income tax rebate

srinivas (purchase) (80 Points)

03 September 2014  

sir

we  have  one flat which are  in  joints name of  myself and my wife .ther is no loan on it and flat is rentted out.

we have another flat which is the joint name of my wife and myslef and loan is taken by by wife and she is repaying the interest and claiming the interste rebate and house is shwon as self occupied eventhough rented out

we  have another flat in the jont names of my wife and myself and rented out and ther is no loan on it.

now we want to buy another flat  for which both of us will contribute and both of us  want to claim income tax rebate . pl confirm is it possible .and also confirm can we set off income from house property against the depreciation.

 


 1 Replies

Ravi Chandra (CA FINAL) (98 Points)
Replied 06 September 2014

We cannot set off depreciation loss with income from house property.


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