Income from house property

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mangesh dhumal (Querist)
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10 October 2011 My director is having two properties. One is commercial and the other is residential. the commercial property is let out to our company and our company is paying rent of Rs.9,00,000/- p.a. The residential property is financed by bank and currently self occupied. However on the said housing loan he is paying interest to the extent of 17 lacs p.a., on the contrary only Rs.1.5 lacs is claimed for deduction. If the director let out the same residential property to our company then can he club the proposed rental income with rental income from commercial property and adjust the full amount of housing loan interest under the income from house property ?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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10 October 2011 Yes, very munch possible.

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