If company have purchased two properties through Bank Loan and paying EMI on both properties. One property is rented out (showing income in computation) and second one is self occupied(Company Guest House). Whether Income Tax will allow Interest on Loan for both properties ?
Menu
Interest on self occupied property
Replies (1)
INTEREST ON LET OUT PROPERTY IS FULLY ALLOWABLE
ON SELF OCCUPIED PROP IT IS LIMITED TO MAX. OF 1,50,000.00 (A.Y. 2014-15) AND 2,00,000.00 (A.Y. 2015-16) (IN CASE OF CONSTRUCTION / PURCHASE AND 30,000.00 IN CASE OF OTHER SORT OF LOANS
Recent Topics :
- Query on scenario related to FAST DS 2026
- Audit Executive (Remote, India) - Ace Auditing Off
- GST Transaction On Used Clothing
- ITC availed on 5%-rate passenger transport (AC bus
- Extension of Due Date of AY 2026-27
- FAST DS 2026
- Does AIS GST Purchase aggregate GSTR-2B expenses?
- Form 26A - System has encountered some technical p
- Tool to convert GST invoice PDFs into Excel —
- Revised or rectification or leave it?
Related Topics :
CAclubindia
