Tag: House Property

What is Annual Value of House Property

What is Annual Value of House Property : For calculating Income from house property, first step would be to derive Annual Value. It is always a difficult task to calculate annual value as there are total Read more […]

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Deduction of Interest on Housing Loan in case of co ownership

Deduction of Interest on Home Loan:¬† IF home loan is taken for the purpose of purchase,¬†construction, repair, renewal or reconstruction, interest there on is allowed on accrual basis under section 24 Read more […]

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Pre construction period Interest on housing Loan

As per section 24 of Income tax Act, 1961, Interest on borrowed capital is allowable as a deduction if capital is borrowed for the purpose of purchase, construction,repair, renewal or reconstruction of Read more […]

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Effects of Jantri rates on Capital Gains

Section 50 C of Income Tax Act,1961 was inserted from Finance Act, 2002 w.e.f. 1st April, 2003 which states that While transferring any land or building or both if full sale value consideration is less Read more […]

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