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Interest paid for House whcih is given on Rent

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(Querist)
21 February 2020 Hello Friends,

A House is owned by me in mumbai. This House is given on rent and a housing loan is taken for this House.

House Rent Received during the Financial year 2018-19 is 175000 & Interest paid to Bank is 235000.

So, my query is what will be effect of such scenario.

How to show the Net Loss from Let Out Property ?

T & R
K P Bhanushali
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
21 February 2020 2,35,000 can be claimed as deduction u/s 24(b) leading to a loss under the head 'income from house property'.
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K P BHANUSHALI

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K P BHANUSHALI (Querist)
07 April 2022 Thanks Sir for providing solution to my query




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