LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

Housing loan interest treatment

Dev K. Sivastav (Self Employed and Work on Assignment Basis) (24 Points)

14 March 2017

If a assessee incurred 320000 as interest on housing loan for construction of house of which certain portion is self-occupied and certain portion is letout. what is tax treatment of interest on housing loan and how to get more benefit from interest on housing loan in tax planning.

Reply
Follow
Share

4 Replies

CA Prateek Garg (CA in Practice) (1444 Points)
Replied 14 March 2017

Self occupied portion and let out portion shall be deemed to be different units....

Interest is to be apportioned between both units

1 Like

Dev K. Sivastav (Self Employed and Work on Assignment Basis) (24 Points)
Replied 14 March 2017

Thank you for reponding but what is the basis of apportion if assessee have 3 room set on ground floor (self occuiped) and 2 room set on first floor (let out)