Contact us   Feedback   Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

Deductions - (Sec. 24)

Income Tax - House Property Income - 04 - SEC - 24: DEDUCTIONS FROM NET ANNUAL VALUE Annual value chargeable u/h IHP shall be computed after making the following deductions: Statutory deduction i.e. 30% of Net Annual Value Amount of interest payable on borrowed capital SEC - 24(b): DEDUCTIONS FROM INTEREST Interest on borrowed capital is allowable as deduction on accrual basis (even if account books are kept on cash basis) if capital is borrowed for the purpose of purchase, construction, repair, .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e / acquisition or construction is NOT COMPLETED within 3 years from the end of the financial year in which loan was borrowed. PURPOSES: Purchase / acquisition or construction and Such purchase / acquisition or construction is COMPLETED within 3 years from the end of the financial year in which loan was borrowed. Deduction = 30,000 (Max) Deduction = 30,000 (Max) Deduction = 2,00,000 (Max) INTEREST FOR PRE-CONSTRUCTION / ACQUISITION PERIOD · Interest for pre-construction / Acquisition peri .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version