House property
This query is : Resolved
02 May 2013
Hello sir,
In my organization, one employee is having self occupied flat. he is submitting us home loan certificate and wile calculating his salary income i am considering his interest for income tax benefit. Now he purchase 2nd flat.
1. can i take this 2nd flat registration amt under 80c ?
2. from next month he will get procession of flat so he is going to give on rent. can i take his 2nd home loan interest for income tax benefit or i can take only 1 flat certificate.
3. If i should take both then how much interest is exempt.
4. i have to calculate his house property income or he should do it from C.A.
Plz reply........
Regards,
Ajita Nair
In my organization, one employee is having self occupied flat. he is submitting us home loan certificate and wile calculating his salary income i am considering his interest for income tax benefit. Now he purchase 2nd flat.
1. can i take this 2nd flat registration amt under 80c ?
2. from next month he will get procession of flat so he is going to give on rent. can i take his 2nd home loan interest for income tax benefit or i can take only 1 flat certificate.
3. If i should take both then how much interest is exempt.
4. i have to calculate his house property income or he should do it from C.A.
Plz reply........
Regards,
Ajita Nair
CMA Ramesh Krishnan
(Expert)
09 September 2013
2nd house interest can be considered as deemed to be let out and need to show the deemed rental income
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