F. A.Q. on Indian Income Tax Laws!: Is Deduction of Interest Allowed For House in Father's Name? 
I am working in Chennai for take home of 36k, gross 44k (after tax, 1lakh savings). Now I am planning to borrow house renovation loan. But the house is in my native Kasaragod Kerala and in the name of my father. This is house is attached with agricul...
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F. A.Q. on Indian Income Tax Laws!: Can I get Dedcution of Interest For Renovation of House Registered in Father's name?
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F. A.Q. on Indian Income Tax Laws!: Will I Get Exemption u/s 54 For Buying Commercial property?
Unfortunately, the exemption provided under section 54 of the I T Act is not for investment in commercial property. This exemption is exclusively for the reinvesting the sale proceeds out of a residential property in
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F. A.Q. on Indian Income Tax Laws!: Not Living In Your House Can Prove You Costly!
A person takes a housing loan and rented the same.He / She is staying in the rented house in the same city .Can we consider the entire amount of interest part paid as tax exemption and as well claim rent paid. Sudarshan Before I start answering you s...
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F. A.Q. on Indian Income Tax Laws!: Principal Amount of Loan Allowed Even If Interest Is Not Allowed!
Yes, the deduction u/ s 24 of the I T Act of Interest on borrowed fund for construction of house 1. which is self occupied or 2. for the reason that the owing to your employment , you could not occupy. 3. or the house is put on rent. In all these cas...
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F. A.Q. on Indian Income Tax Laws!: Interest & 80C Deductions Allowed to Non Residents Too!
shankers_1999@......com Asked : I was NRI and working in DUBAI till Dec 14th 2007 ( Went to Dubai in 26th July 2003). Returned back to India on 15th Dec 2007 and joined an MNC here. I have 2 question for filing my Income tax return,( FY 2006-2007) * ...
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Pay the Income Tax Even If House is Not Given On Rent! Shocking but True.
The Income Tax Act provides that if a person has more than one house , only one house , at the option of assessee , shall be taken as SELF occupied while the other house will be charged to tax as if the house is let out.Read the relevant provision un...
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Even Non Resident Can Claim Deduction of Interest on Home Loan
Often NRIs confuse whether they are allowed deduction of interest on home loan from their income
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