House property income
This query is : Resolved
28 August 2013
DEAR SIRS,
I HAVE A SALARIED CLIENT HE HAS A HOUSE IN WHICH HE CAN TAKE BENEFIT AS SELF RESIDENCE HOUSE. HE HAS TRANSFERRED IN OTHER CITY AND WANT TO PURCHASE A NEW RESIDENCE HOUSE PROPERTY IN OTHER CITY. CAN HE AGAIN CLAIM AS SELF RESIDENCE HOUSE IN NEW CITY HOUSE, IF HE GIVE IN RENT OF OLD CITY HOUSE? PLS. GUIDE ME, THANKS
I HAVE A SALARIED CLIENT HE HAS A HOUSE IN WHICH HE CAN TAKE BENEFIT AS SELF RESIDENCE HOUSE. HE HAS TRANSFERRED IN OTHER CITY AND WANT TO PURCHASE A NEW RESIDENCE HOUSE PROPERTY IN OTHER CITY. CAN HE AGAIN CLAIM AS SELF RESIDENCE HOUSE IN NEW CITY HOUSE, IF HE GIVE IN RENT OF OLD CITY HOUSE? PLS. GUIDE ME, THANKS
28 August 2013
Yes. he can claim the house in present city as self occupied and house at previous city as let out property and show the rental income
for self occupied you can claim the interest up to Rs.1.50 lakh & let out property actual interest amount
for self occupied you can claim the interest up to Rs.1.50 lakh & let out property actual interest amount
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