Interest Allowed But Not Principal Amount On Home Loan!

I have taken housing loan in 1999 for Rs. 1.53 lacs and then addition loan of Rs. 3.50 lacs for addition to the same...

Deduction of Interests Is Allowed Even If House is Not Used For Residential Purpose.

I have purchased my first flat in 2006-2007.Now i am paying EMI. But due to the distance of that area approx 30 km...

Exemption Can Not Be Claimed if House is Purchased in Relatives Names!

Mr XYZ sold a house which was in solely in his name. To save capital gain tax, Mr XYZ deposited money in the capital...

Rental Income From NRI’s House Is Taxable in India

I am a NRI living in the US since Nov 2003. I bought an apartment in India in Aug 2005 and since then...

Interest Not Allowed If You Do Not Own The Property!

I have taken loan for extension of house which is registered to my mother's name. she is co-applicant of loan and i will repay...

Principal Amount of Loan Allowed Even If Interest Is Not Allowed!

Suppose, somebody is taking exemption on rent can he also be eligible on Housing Principal & Interest benefit? rajendra.panditrao@.................comYes,interest is allowed...

Interest & 80C Deductions Allowed to Non Residents Too!

shankers_1999@......com Asked : I was NRI and working in DUBAI till Dec 14th 2007 ( Went to Dubai in 26th July 2003). Returned back...

Pay the Income Tax Even If House is Not Given On Rent! Shocking but...

r.maharaj@osram.co.in Asked whether benefits of Interest on Housing loan can be possible if a person have two self occupied house and paying interest...

Deduction of Interest is Allowable for more than One Home.

I am a salaried individual living in my own flat in Bangalore, for which I have taken a home loan and paying emi. I...

Dedcution of Interest and Principal Are Allowed to Each Co-Owners Who Paid Interest on...

Query 1 : I have borrowed a housing loan (Joint loan - Self, Spouse, brother), since the site is in my name and brothers...