Can Sec 80TTB deduction be claimed after set off of overall losses of IFOS against HP Income

This query is : Resolved

jamsheed (Querist)
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15 December 2021 Assessee having HP Income and also does maintenance of said property for which separate amount is charged from Tenants. The expenditure on Maintenance is more than Income thus leading to overall loss which is being shown under head" Income from Other Sources" and the same is being set off against HP Income.
Assessee being senior Citizen received Interest on FDR of Rs.50000/-
Income from Other sources
Loss from Building Maintainence-300000
Interest on FDR-50000
Net Loss under the "Income from Other Sources-250000

Can He claim deduction against Interest on FDR u/s 80TTB after overall set off of rs.250000/- from HP income?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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15 December 2021 Yes, 80TTB can be claimed in such a case.

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Can Sec 80TTB deduction be claimed after set off of overall losses of IFOS against HP Income

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