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Income from house property

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 July 2015 I have made my first property purchase the possession of which was taken in march 15 .The property is neither self occupied nor rented in fy1415.I have taken a loan from relatives in December 14 for the purchase .My total interest liability for fy1415 is 1.4 lacs. i have also incurred legal expenses and title search expenses for the property.Please advise how to compute income from house property. Thanking you in advance
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
29 July 2015 Claim interest of 1.4 lacs as self occupied property.
Legal and search expenses treat it as part of cost of the house.

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