house property deductions
This query is : Resolved
Neelam Lalwani
(Querist)
21 April 2011
sir
if a person is owner of 2 house property and had taken loan for both can he claim deduction for interest paid on both loans subject to the limit of 150000??
if a person is owner of 2 house property and had taken loan for both can he claim deduction for interest paid on both loans subject to the limit of 150000??
21 April 2011
Dear Neelam
Yeah ,,,,, he can get deduction for both house .
Dear Neelam
Yeah ,,,,, he can get deduction for both house .
Message likes :
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Rahul Vora
(Expert)
23 April 2011
Definitely, that person can claim deduction for interest paid on both loans. But, one of the house will have to be considered as deemed to be let out and rent income is to be calculated and taken as "Income from House Property". There will be no limit of Rs.150000/- on interest deduction on this house property house.
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