Sir
Can i claim the full pre-acquisition interest portion in the year of acquisition of house property subject to the limit of Rs.150000/- instead of 5 instalments?
Shiva
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INTERST ON HOUSING LOAN
Replies (4)
No,
You can not claim full int on pre ocupation housing loan in one year.
| Originally posted by :K SIVARAMAN | ||
| " | Sir Can i claim the full pre-acquisition interest portion in the year of acquisition of house property subject to the limit of Rs.150000/- instead of 5 instalments? Shiva |
" |
HELLO,
IF YOU HAVE A SALARIED PERSON , OR THER ASSESSES THEN YOU TAKE THIS DEDUCTION U/S 80 C
IF YOU TAKE DEDUCTION 80 C THEN YOU CLAIM RS 100000/- OTHERWISE YOU HAVE INCOME FROM HOUSE PROPERTY THEN YOU TAKE DEDUCTION U/S 24 (ii) FOR RESIDENTIAL HOUSE YOU CAN TAKE MAX-150000/- IN A YEAR. OTHER WISE FOR TANENT YOU CAN DEDUCTION U.S 24(ii) WHOSE AMOUNT YOU PAY INT. ON HOUSE LOAN (ALL WILL BE FULLY DUDCTED FROM YOUR HOUSE PROPERTY INCOME.
| Originally posted by :Guest | ||
| " |
SORRY SIR, IN THE PRE- EQUISITION PERIOD YOU HAVE PAY INTEREST , YOU CAN CLAIM ONLY 5 INSTALMENT. IF YOUR INTEREST RS 750000 (IN 5 INSTALMENT THEN YOU CAN CLAIM U/S 24 (ii) OTHER WISE YOU TAKE ONLY 30000/- IF YOU HAVE A SALARIED PERSON , OR THER ASSESSES THEN YOU TAKE THIS DEDUCTION U/S 80 C |
" |
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