Entire interest on home loan is allowed as deduction ..??
This query is : Resolved
22 June 2015
In case your property is Let Out or when you have more than one self occupied property and one or more of your property is considered Deemed to be Let Out – the entire Interest is allowed as a deduction from the Rental of the property.
I have read somewhere above article is it correct or not Please advice
I have read somewhere above article is it correct or not Please advice
Nikhil Kaushik
(Expert)
22 June 2015
you have to deduct interest from the GVA for each property separately. For rented out or deemed let out properties, the full interest will be allowed. However, even with other properties being rented out, the self occupied property will be eligible for Rs 200000 limit only.
22 June 2015
Thanks for the info..!!
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