Calculations of house property income
This query is : Resolved
12 August 2015
Dear All,
Greetings for the day ...
I have query, where an individual has two housing loan. His one house is self occupied and another is just vacant, not given on rental.
Can he avail exemption on both the loans . Someone has suggested that to take benefit of other 2nd loan, he has to show income from that property.
Please guide me in this matter
Deepti Asawa
(Expert)
12 August 2015
When someone has 2 house than he can show only 1 house as self occupied and other should show as rented.
When 1 house which is show as rented is vacant in whole year than its annual value can be taken as Zero.
you can avail exemption on both the loan.
You can claim maximum interest Rs. 2 lakh in case of self occupied property
When 1 house which is show as rented is vacant in whole year than its annual value can be taken as Zero.
you can avail exemption on both the loan.
You can claim maximum interest Rs. 2 lakh in case of self occupied property
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