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INTT UNDER HOUSE PROPERTY WRONGLY CLAIMED UNDER OTHER SOURCES

Others 242 views 4 replies

Dear ALL

I have a query where the interest on loan paid against rental property wrongly claimed under other sources. Kindly help me about the case laws where there is no loss to department on account expense claimed under wrong head as there is same amount.

Thanks in Advance

 

Replies (4)
Which AY it is

The case is of the A.Y.17-18..

Dear Nikhil,
is the case under notice ?
Has this issue been raised by AO ?
is the other income turning negative in view of interest payment on property ?
Normal case, as you said, it makes hardly any impact on tax liability.
Dear Pravin ji
The case in under scrutiny and the othe income is turning into loss from other sources.


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