House Property
This query is : Resolved
CS SIDDHARTHA BANIK
(Querist)
04 February 2011
Dear Expert,
One person is staying outside Delhi for Job purposes. Hence claiming HRA.
He has two house in Delhi. Out of which one house is treated as deemed to be self occupied. Therefore Annual Value is treated as NIL.
Other house is obtained on loan. Though it was remain vacant but can be treated as deemed to be let out and Annual Value is what is Rent Receivale. Out of that Loan interest is deductable and the net loss out of that house is adjustable aganist salary income.
Am I correct?
Thanks,
CS Siddhartha Banik
Dear Expert,
One person is staying outside Delhi for Job purposes. Hence claiming HRA.
He has two house in Delhi. Out of which one house is treated as deemed to be self occupied. Therefore Annual Value is treated as NIL.
Other house is obtained on loan. Though it was remain vacant but can be treated as deemed to be let out and Annual Value is what is Rent Receivale. Out of that Loan interest is deductable and the net loss out of that house is adjustable aganist salary income.
Am I correct?
Thanks,
CS Siddhartha Banik
04 February 2011
Set off is permitted as a corollary to section 71 (2A) of the Income tax Act,1961.
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