deduction_interest

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

Deduction of Interest on home loan is one of the oft asked question on tax. Nishmitha Shetty of Mumbai asks “When loan is taken...
interest_home

Effect of selling house on interest deduction u/s 24 & principal amount u/s 80C

One of the most queried issue out by ordinary tax payer is about house loan and benefits out of such borrowal of funds u/s...

Can you get deduction of interest & principal on loan borrowed for buying land...

In my earlier posting , confusion regarding claim of interests on loan borrowed for buying land was explained. One can read Is Ineterest on Loan for Buying Plot /Land Allowed Dedcution ? . Similar question has been asked by Vijay Kumar Babu residing in Visakhapatnam who asks " I have decided to buy a plot of land through home loan from PNB or HDFC Home Loan. its costs Rs.5 Lakhs. For your information at present I'm residing in my own residence.Now my query are

Can You Claim Interest Deduction Without Completion Of House?

Deduction of interest on loan borrowed for buying or constructing loan is on eof the foremost conufison on the minds of the tax payers. Suman of...

Can Husband Claim Deduction u/s 24 if He Pays EMI of Housing Loan Taken...

My wife is owning a property in his maiden name & after marriage I am paying the EMI of the flat as she is not earning. The Tax certificate which we receive from the Bank is on her Maiden name. So as i am paying the EMI is there any option where i can get

Can One Claim Deduction of Interest u/s 24 on Loan Even After Sale of...

I had taken a home loan from HDFC in May 2005 for a flat whose construction was start in year 2005. I had...

How Income From Flat Given on Leave & License Taxed?

Nowadays there are Real State Mgt companies who take Flat on Leave & License basis, maintain them & offer License fee to owner.I have...

Can I Claim Deduction of Interest & 80C for Construction on The Property Owned...

I had built a house in my ancestral property owned by my Father. As per Will registered I will be the sole owner of...

When Is Your Wife Not Eligible For Deduction Despite Being Joint Home Loan Applicant?

I have taken a home loan of Rs. 8.36 lakhs from ICICI Bank about 3 years ago for purchasing a flat. The flat is...

Are Husband & Wife Eligible For Interest Deduction u/s 24 , Principal Payment u/s...

I am Puneet. I alnogwith my Wife is also a Govt. employee. We both are living in Delhi. I alongwith my wife is living...