House rent property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 July 2014
Hi,
I have purchased a commercial property in FY 13-14. i had let it out for commercial purpose and paying interest on the loan for purchasing an another property.
Can i adjust the rent income against the interest.
I have purchased a commercial property in FY 13-14. i had let it out for commercial purpose and paying interest on the loan for purchasing an another property.
Can i adjust the rent income against the interest.
20 July 2014
u need to show rental income as income from house property and int can be claimed as int u/s 24(B).
20 July 2014
No, since interest is paid on a loan to acquire a property other than the let out property.
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