I have purchased a house on Sept’07. And I’m paying EMI for it since Oct’07… But, am yet to take the possession of the house.
Moreover, the property is located in a different city and I’m working in a different city.
Can I claim tax benifit on the interest on the home loan I’m paying?
I took housing loan in 2003 for purchasing one property in ‘A’ city. The same is now given on rent. Now, I’ve decided to purchase second property in ‘B’ city. But I am staying in some other [‘C’] city, therefore, I need to give my second property on rent. Can I claim income tax benefit for two rented properties, if so, how much?
I stay in a home owned by my father and I pay monthly rent for it. Can I get tax exemption for the rent paid? If yes how can I claim it?
If self and spouse are joint borrowers then can each avail the full exemption. Can part exemption is allowed e.g. Husband takes the full interest part of loan repayment and part payment of the principal. While remaining part of the principal is availed by wife for tax exemption. Is this allowed and if yes under which rule of income tax?
about financial lease. under income tax act depreciation is provided for the legal owner of the business ie, for lessor, but recently in a case supreme court held that depreciation can be claimed by the lessee also, plz reply.
1. Rent paid by me & for the
2. Loan repayment for property that I currentlly dont reside in.
I am having own house in Hyderabad but it is not sufficient for my use. I am staying in a rented house. Can I claim HRA deduction for income tax purposes. How should I show my property in my monthly property return.
My employment has been tranefrred to bangalore. I had filed saral form last year in Delhi/Gurgaon. Can I visit the Bangalore inocme tax office with the filed returns to claim tax refund ? Waht is income tax ombudsman contact address and ph no?
I have contacted CPC several times. but there is no use. Is it possible to get the refund directly from the Income tax office itself.
I have already purchased a home by taking a loan from SBI. I am also claiming the tax benefits for the same (Loss from house property). Now I am availing one more loan from the same bank for extension/renovation of the same property. This is having a different account number. Can I club the interest paid in both loans and show the loss from house property. I will still be within Rs.1.5 Lakhs/Annum limit