Income from HP
This query is : Resolved
01 September 2010
HI
I have two House Property first one is Self Property and second is Let out
1)for 1st house i am paying Interst to bank 1,60,000/- for that i can claim 1,50,000 under Income from HP in IT
2) for second House i am paying Interest to Bank 2,00,000/-
So my query is that can i cliam both Amt under Income from HP my Rent is 3500/- Pm
Plz suggets
Thanks
I have two House Property first one is Self Property and second is Let out
1)for 1st house i am paying Interst to bank 1,60,000/- for that i can claim 1,50,000 under Income from HP in IT
2) for second House i am paying Interest to Bank 2,00,000/-
So my query is that can i cliam both Amt under Income from HP my Rent is 3500/- Pm
Plz suggets
Thanks
CMA Ramesh Krishnan
(Expert)
01 September 2010
You can claim Rs. 150000 maximum for your Self occupied house and Rs.200000/- can be claimed for Letout property as Interest on House property
CA Gangadhar Mishra
(Expert)
01 September 2010
agree with expert, for the let out property actual interest payable is allowed.
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