House property income

This query is : Resolved

Surendra (Querist)
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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

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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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

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