House Property Income -10 Questions to Check Your Knowledge

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House property income taxation provision is given in section 22 to section 27 of the Income Tax Act. There  are certain benefits attached to acquiring house for self residence by the government. Apart from this , the law of taxing house property is not necessarily dependent on the ownership , but who actually enjoy income out of a property. So , a set...

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Deduction of Interest u/s 24 Fully Allowed Without Limit In Certain Cases !

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Deduction of Interest on home loan is one of the oft asked question on tax. Nishmitha Shetty of Mumbai asks “When loan is taken for two homes then how much interest paid on them is allowed for deduction u/s 24 under the head House Property? Is it only Rs. 150000 or more?” Following points shall...

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