The Assessee (Individual) has two house properties. One house property is self-occupied and the second house property is under renovation.
The Assessee has paid Interest on Loan for FY 2014-15 for the second house property. While filling the Income Tax Return, I need to state the ‘Type of House Property’ as ‘Deemed Let Out’ only, as other options may not be applicable.
Query
How can the Assessee claim ‘Interest paid on borrowed capital’ for the said house property, as it is under renovation?
Your reply, please..............
Thanks in advance for possible replies from all concerned.
CAclubindia
