Golgappa.net | Golgappa.org | BagIndia.net | BodyIndia.Com | CabIndia.net | CarsBikes.net | CarsBikes.org | CashIndia.net | ConsumerIndia.net | CookingIndia.net | DataIndia.net | DealIndia.net | EmailIndia.net | FirstTablet.com | FirstTourist.com | ForsaleIndia.net | IndiaBody.Com | IndiaCab.net | IndiaCash.net | IndiaModel.net | KidForum.net | OfficeIndia.net | PaysIndia.com | RestaurantIndia.net | RestaurantsIndia.net | SaleForum.net | SellForum.net | SoldIndia.com | StarIndia.net | TomatoCab.com | TomatoCabs.com | TownIndia.com
Interested to Buy Any Domain ? << Click Here >> for more details...

  1. Categories >> Accounting >> Accounting General
  2. Suggest New Category

Explain deduction from house property income U/s (24)?

Question Posted / sanjiv kotia


Explain deduction from house property income U/s (24)?..

Answer / r.chandrasekaran

Two types of deductions are available u/s.24.

1. Standard deduction: 30% of net annual value is deductible irrespective of any expenditure incurred by the tax payer.

2. Interest on borrowed capital: Interest on borrowed capital is allowable as deduction, if the capital is borrowed for the purpose of purchase, construction, repair, renewal or reconstruction of the house property.

Is This Answer Correct ?    19 Yes 6 No

Post New Answer

More Accounting General Interview Questions

I WRITE GROUP-4 EXAMINATION.I STADIYING INTERMEDET HOW MANY PARSANTEGE OF GROUP-4 EXAMINETIN

0 Answers  

What is ppe in accounting?

0 Answers  

What do you mean by AS in accounts?

1 Answers  

What is fbt (fringe benefit tax)?

0 Answers  

When will the cash Book have a Credit Balance?

20 Answers   Accenture,

Under what type of account do the unearned revenues fall?

0 Answers  

How can pass reverse entry to close the account. If the Asset sides is greater then liabilities side and vice versa, then what can I do.

0 Answers  

I am working in govt. sec. How to make journal entry in books for Fix Deposit

0 Answers   SBS Institute,

how to pass this entry in tally? Dear Sir, I have just started learning tally . I am practicing tally. and I am following 11th Std book for practicing. Please help me with the following entry. I know dr and cr part but having problem in grouping. Please Help. Introduced goods of Rs 10,000, cash Rs 15,000, furniture Rs 5000, debtors of Rs 1000 and commenced business. What will be the entry and group for each ledger. Please Help.

0 Answers   Student,

I TRANSFERRED A STOCK OF RS. 100.00 FROM HEAD OFFICE DELHI TO MFG. UNIT OFFICE AT HARYANA AGST FORM F.AT BRANCH GOODS ARE PROCESSED AND ADDED VALUE OF RS. 80.00 AND TRNF BACK TO DELHI HEAD OFFICE FOR RS. 180.00 AGST FORM F FROM HARYANA . AND HEAD OFFICE SOLD THIS TO PARTY AT RS. 200.00 . I WANT TO KNOW HOW TO MAKE ACCOUNTING ENTRIES IN BOTH BOOKS HEAD OFFICE AND BRANCH OFFICE. TO SETTEL ACCOUNT AND TO CONSOLIDATE THE BOOKS AT THE END OF YEAR.

0 Answers  

How Many Methods of Depriciation & Which are those ??

6 Answers   Focus,

What do u mean by accounting?

6 Answers  

For more Accounting General Interview Questions Click Here
Categories