warehousing rental

Warehousing Rental Receipt is Income From House Property or Business ?? !

Persons who are involved in the business of rental of space in warehousing , often , get confused whether the income should be shown...
deduction u/s 24

Can You Claim Deduction u/s 24 &Section 80C if Home Loan Borrowed From Friends...

The deduction of interest u/s 24 of the Income Tax Act is allowed even when the house property is self occupied . It also...
home loan prepayment charges

Home Loan Repayment Charges Allowable Deduction u/s 24(b)

It is well known that home loan interest is allowable u/s 24(b) of the Income Tax Act. It is also common among the home...
compund interest

Compound Interest on Home Loan Not Allowable as Deduction under section 24!

The home loan entitles a person so claim deduction of interest payable on the amount borrowed and utilized for the purpose of buying or...
http://taxworry.com/section-26-property-owned-by-co-owners/

Can Wife Claim Deduction of Interest & Under Section 80C Despite Husband Paying...

Me and My husband have taken a home loan last year. It was a joint loan on a property. EMI is paid from my husband's salary account. Can I take tax benefits for it even though I am not contributing to paying EMI. The interest statement has names of both of us. Rashmi, Delhi Yes
renting house

Why Renting of House is Better Tax Planning !

This post suggesting tax planning is for those clients of yours who have more than one house and wants to save on tax on...
Deductions

10 Golden Rules for Claiming Deductions from House Property Income !

Do you know that one simple fault can restrict your interest deduction in case of self occupied house to Rs 30,000 from the maximum...

Can Rent Received by Tenant Be Taken as Annual Value for Owner ?

The annual value of the house property is charged to tax under section 22.Since section 23(1) (a) provides that annual value is such which...
house property income

House Property Income: 2 Little Known Laws !

The income from house property is one of the five heads and as the heading suggest is for computing income from rent of a...

Rental of Building On Longer Term Even By A Hotelier Can Not Be Business...

Income Tax Act 1961 has express provision of charging income from rental of building or house under the head Income from House Property ....

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