Income from HP

This query is : Resolved

Arvind (Querist)
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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

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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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

CA Gangadhar Mishra (Expert)
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01 September 2010 agree with expert, for the let out property actual interest payable is allowed.

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