Double claim of Interest Paid on Capital Borrowed for purchase ...

Income Tax

February 3, 2023

Double claim of Interest Paid on Capital Borrowed for purchase of Property - Ist U/s 24 under House Property income, 2nd deductions under chapter VI-A and 3rd u/s 48 as part of cost of acquisition - Amendments proposed to allow only one benefit as per the choice of the assessee.

View Source

← Previous Next →

Double claim of Interest Paid on Capital Borrowed for purchase ...

Income Tax

February 3, 2023

You may also like:

Rental income - Deduction for interest on borrowed funds u/s 24(b) - the assessee may have purchased the property out of borrowed funds, but the onus is upon the...

Assessee had claimed loss under the head income from house property’ by claiming deduction u/s 24(b) of the Act in respect of interest paid for purchase of house...

Income from house property - Deduction of Interest paid on security deposit received from the tenants - these interest bearing deposits has been utilized for repayment...

House property - Disallowance of interest claimed on second loan u/s.24(b) - Applicability of DBDT circular - Ld. CIT(A) recorded categorical findings that the assessee...

Computation of income from house property - deduction of interest on subsequent loan which was borrowed to repay earlier loan - The proviso only carves out an exception...

Standard deduction and interest paid on housing loan - Once the income is assessable under the head house property, consequent deductions being standard deduction u/s...

Rental income - Deduction u/s 24(b) - interest paid on the amount borrowed - the loan was not borrowed for the impugned Flat No.11. Assessee had claimed that the loan...

Deduction of Interest paid in respect of capital borrowed for the projects - no distinction can be made between the money borrowed for acquiring capital asset or revenue asset - HC

Disallowance of interest on borrowed capital u/s 24(b) - whether property should be let out for claiming deduction of interest? - the assessee’s claim has no tenability...

Revision u/s 263 - Claim of interest against rental income - Proof of availing loan for acquisition or construction of property - the proviso contained in section 24(b)...

Quick Updates: