Income from house property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 July 2015
I have made my first property purchase the possession of which was taken in march 15 .The property is neither self occupied nor rented in fy1415.I have taken a loan from relatives in December 14 for the purchase .My total interest liability for fy1415 is 1.4 lacs. i have also incurred legal expenses and title search expenses for the property.Please advise how to compute income from house property. Thanking you in advance
29 July 2015
Claim interest of 1.4 lacs as self occupied property.
Legal and search expenses treat it as part of cost of the house.
Legal and search expenses treat it as part of cost of the house.
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