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Setoff of int. exp.

Rahul jain (LEARNING & TEACHING) (435 Points)

07 March 2014

gud evng....

can i setoff my preacquision intrest exp. of hosing loan against any other int. income....???

or it is compulsory to take ir under house property calculation?????

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2 Replies

Manoj Mehta (Head Of Department (Accounts & Finance)) (1479 Points)
Replied 07 March 2014

Dear Rahul preacquision interest will come under house property. If you have no income from house property then this loss will setoff against your other income.

Rahul jain (LEARNING & TEACHING) (435 Points)
Replied 08 March 2014

Dear majoj sir- i want to know that on preacquisition of asset how can i show the preacquisition asset on rent and how to compute the house property income?????