deduction of Interest on HP
This query is : Resolved
10 February 2009
Hi,
I have two questions:
1)I have purchased a house and can I give it to my father on rent and get full deduction of interest as there is no limit of 1.5lacs applicable to letout property.
2)If the purchased property is not in the city of living then will this house be treated as selfoccupied or let out. If let our then I need to show some rented income.
Regards
I have two questions:
1)I have purchased a house and can I give it to my father on rent and get full deduction of interest as there is no limit of 1.5lacs applicable to letout property.
2)If the purchased property is not in the city of living then will this house be treated as selfoccupied or let out. If let our then I need to show some rented income.
Regards
10 February 2009
1) Legally possible.
2) If u have 2 residential houses 1 can be treated as self occupied, if u reside therein, and the other will be treated as deemed to be let out.
2) If u have 2 residential houses 1 can be treated as self occupied, if u reside therein, and the other will be treated as deemed to be let out.
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