I am not claiming any rebate on account of interest on housing loan. I am the owner of a single immoveable property, bungalow which is self occupied. Annual corporation taxes are paid and hence income from the property is NIL. Still do i need to give these details in the Return and show as Nil income?
I am told tax rebate can only be taken when house is ready for use or flat when possession is taken
I have been taken a housing loan from my office as well as ICICI Bank as sufficient loan ia not provided by office. I am paying regular EMI to both. Now I want to know whether I can get Income tax rebate on both the EMI paid.
As per income tax guidelines, interest accrued on a home loan is permissible for deduction whether paid or not. I have a house building allowance in which I repay only the principal amount. I would like to claim rebate on previous year’s accrued interest.
Last year’s budget did not go down well with the salaried class. What are the chances that we’ll see some tax rebate this year?