Interest paid on borrowed capital (from bank) invested in a ...

Income Tax

June 19, 2015

Interest paid on borrowed capital (from bank) invested in a house property - the claim of interest on borrowing applied to a particular source of income (house property) against income arising from the said source of income, i.e., house property (Rs.1.50 lacs) as well as against income from another source, i.e., income from other sources (at ₹ 14.19 lacs), is self contradictory. - AT

View Source

← Previous Next →

Interest paid on borrowed capital (from bank) invested in a ...

Income Tax

June 19, 2015

You may also like:

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

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...

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

Deduction claimed u/s 54 - oint owners of the house property having 50% right, title and interest over the property - Since the assessee and her son have jointly...

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...

Long Term Capital gain computation - interest capitalized to cost of asset - It is not in dispute that the property was acquired by a borrowed capital initially borrowed...

Income from house property - Deduction of interest u/s 24(1)(vi) - Interest paid on interest levied by the bank, because of non-payment of instalments of borrowed...

LTCG - Claim of deduction u/s. 54F - Even before us at this stage, the assessee has not produced any evidence to prove that she had invested in another residential house...

Addition on the account of Section 24 v/s business head u/s 37 - interest paid on housing loan - The ITAT upheld the CIT(A)'s decision, stating that if the interest is...

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...

Quick Updates: