INTT UNDER HOUSE PROPERTY WRONGLY CLAIMED UNDER OTHER SOURCES

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Chartered Accountant
62 Points Posted on 10 December 2019

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

 

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On 10 December 2019 at 13:09 Report
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10683 Points Posted on 15 December 2019
Which AY it is
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On 15 December 2019 at 15:15
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Chartered Accountant
62 Points Posted on 16 December 2019

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

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On 16 December 2019 at 13:16
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10683 Points Posted on 16 December 2019
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.
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On 16 December 2019 at 13:24
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Chartered Accountant
62 Points Posted on 16 December 2019
Dear Pravin ji
The case in under scrutiny and the othe income is turning into loss from other sources.
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On 16 December 2019 at 15:35

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