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House property

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 December 2014 what is exemption limit for int on borrowed capital if it is not self occupied
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
20 December 2014 It is not exemption, it is deduction u/s.24(b) incase not self occupied then need to consider let out or deemed to be let out. actual interest for the financial year can be taken as deduction, provided you are showing the rental income
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CA Kumar Mukesh

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CA Kumar Mukesh (Expert)
21 December 2014 There is unlimited Exemption limit for Interest on house property other self occupied property.

But Rs. upto 1,00,000 lacs is eligible for repayment of housing loan under section 80C
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Rupesh Jain

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Rupesh Jain (Expert)
22 December 2014 THERE IS NOT LIMIT FOR THE LET OUT PROPERTY ITS TAXABLE UNDER THE INCOME FROM HOUSE PROPERTY AND CLAIM THE INTT AGAISNT THE RENTAL INCOME.
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