Online
|
|
Dear friend, if the house in question is ur first/only house u need not to show any deemed rent (if house is vacant) show rent only if u r actually receiving any. U r eligible to claim interest benefit for a max. of 1.5L Rs. under Section 24 of IT Act.
In case this is ur second house but house is vacant u w`d have to show deemed rent or if the house is on rent, the actual rent. In both cases, the rent `ll be added to ur income under the head income from house property but in this case u may claim deduction from rental income @ 30% for maint. of house & all the interest paid (no limit of 1.5L Rs. as in first case, so u can full amount of interest if it`s more than 1.5L Rs.) on home loan in the FY with out any limit.
If the rental income is still positive it`ll be added to ur income from all other sources but in case the above income is negative, u can set it off againt ur salary income.
Thanks
Ashal ...
I have taken a house loan. I have started paying the EMI as well. I wanted to know for Tax exemption should the House be ON RENT compulsorily? or if the HOUSE is empty and is it possible to still claim the exemption on the interest?...
Can I get a home loan for buying a house on my wife`s name in india if she is not working and doesnt have any income at present? I am a NRI....
Thanx vishal but in SBi there is no foreclosure penalty and nil processing charge . Now what do you say....
which are the bankers who give loan to purchase land?...
Yes, the twain of understanding shall never meet. The average income in India is Rs.3000 per month. That is a fact whether Chiddu, MMS or you all agree to believe in it or not. Sadly your Pride and self esteem does not increse the average income any more even in the year 2009.
Gap up middle class income is of no actual significance in a nation of 1.2 billion people. Sorry to rain on your parade....
netdo dear
HAAAAAAAAAAAAA
Quote
Middle class means those in the middle. Not any one between Ambani and my dhobi.
Unquote
I think i said UPPER MIDDLE CLASS... there is a gaup opening for that level.. haaaaaaaaaaaaa...
You guys need to go and reread that thank the God quote that appaeraed yesterday or the last weekend in quotable quotes. RN, your definition of middle class in India is so screwed up I am stunned. 75% of the Indians live on $3 or less per day. Repeat after me 75% live on $3 or less. How can middle class have 5 or 10 crores? Even if you are math challenged, just think it through. Middle class means those in the middle. Not any one between Ambani and my dhobi....
lol dont depress me , m just thinking with my salary how many years before i even at least earn 1 crore never mind saving lol..it says processing erorr..number too bigger than imagination lol...
Ankitin,
Better hurry .. be very tight fisted.. count every rupee and spend it only on the very poor who are hungry or spend it on your dear dear ones... but never spend it on yourself or spoil yourself.. you may take yourself for granted but not your near adn dear ones.. i used to call my kids SWEETHEARTS now i call them cheathearts coz they are cheating their girlfriends maybe. .ha ha ha.. so although that cheatheart means a very lovable way of sweetheart it also has a double meaning lol...
The average upper middle class family in India has 5 crores... one boarder here by name chest50arms20 wrote that many upper middle class families have 10 crores at the minimum in cash assets.. this was way back in 2004 and i wondered how come i am so poor but inspite of trading i have not made 1 crore....
count me in. i dnt hv either..lol...
my brinlaw in US has 70 crores... he is a superspeciality doctor.. he has money to buy a private jet.. i am not their standard at all....
first tell me how many 0`s are there in one crore lol..if one had one crore cash they wont be wasting time doing day trading lol...
My brother has not one crore but 4 crores or mroe in cash but he wont tell me...
But i dont have it....
first tell me how many 0`s are there in one crore lol..if one had one crore cash they wont be wasting time doing day trading lol...
