Income from HP

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Nitesh (Querist)
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06 October 2016 Hello, 1. I bought house and having salary income. I am claiming housing loan interest (Rs 150, 000) and principal repayment. 2. Now I am planning to buy Shop of Rs 40 lakhs, which will give me rent of Rs 2 lakhs a year. Interest payments on loan will be Rs 4 lakh a year, can I claim, a) Net Rs 2 lakh as loss from house property here OR b) Rs Rs 4 lakhs *70 minus 2 lakh(bank int). Please advise Thanks

Amol S Joglekar

Amol S Joglekar (Expert)
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06 October 2016 you can claim loss from house property, in the case of rented property... there is no CAP/limit

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