16 December 2013
I have purchased a second house in this fy . The loan is also been sanctioned this year itself. Is the stamp and registration fees paid to govt exempted from taxable income and under what rule.
What is the limit of tax exemption for interest paid for home loan for second house when first property is let out and declared as income from house property.
16 December 2013
its an expense. How will it be exempted from income. You can include it in the cost of acquisition.
each and every property is treated separately. if the second property is also let out then no limitation on interest claim. self occupied property shall have limit of Rs 1.5 lakhs per annum.
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