House property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 December 2014
what is exemption limit for int on borrowed capital if it is not self occupied
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
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
But Rs. upto 1,00,000 lacs is eligible for repayment of housing loan under section 80C
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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