Home loan interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 June 2010
If a salaried man take home loan ,purchase home & let it out then whether there is ceiling of Rs. 1,50,000 u/s 24 for him ,for getting deduction ?
can loss from House property be set off against his salary income?
can he carry forward loss from house property in the next year if loss cannot be adjusted fully with this years other heads of income?
can loss from House property be set off against his salary income?
can he carry forward loss from house property in the next year if loss cannot be adjusted fully with this years other heads of income?
CMA Ramesh Krishnan
(Expert)
21 June 2010
As per Sec.71 Loss from House proerty can be adjust against Salary Income, If is is not adjustable in the year. it can be carryforward next Assessment year up to 8 year Sec.71B
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