06 October 2016
Hello,
1. I bought house and having salary income. I am claiming housing loan interest (Rs 150, 000) and principal repayment.
2. Now I am planning to buy Shop of Rs 40 lakhs, which will give me rent of Rs 2 lakhs a year. Interest payments on loan will be Rs 4 lakh a year, can I claim, a) Net Rs 2 lakh as loss from house property here OR b) Rs Rs 4 lakhs *70 minus 2 lakh(bank int).
Please advise
Thanks
CAclubindia
