House Property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 July 2011
Can I Show a Residential Flat Partly let-out and partly Self-Occupied for taking benefit of interest deduction u/s 24 ?
If so,
How the calculation is to be made for self-occupied and Let-out part seperately.
If so,
How the calculation is to be made for self-occupied and Let-out part seperately.
10 July 2011
In respect of self occupied property, also you can avail deduction U/s 24 up to Rs 1.50lac in a previous year.
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In case interest is substantially more than Rs. 1.50 lac the house may be let out completely.
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Letting out partly of a house may create future problem when the loan will be paid off. As the same may be treated as comprising of 2 residential units and income in respect of another residential unit may be added to your income by treating it as deemed let out.
*
*
In case interest is substantially more than Rs. 1.50 lac the house may be let out completely.
*
Letting out partly of a house may create future problem when the loan will be paid off. As the same may be treated as comprising of 2 residential units and income in respect of another residential unit may be added to your income by treating it as deemed let out.
*
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