Income tax interest subsidy
This query is : Resolved
03 May 2013
Presently i am liveing in 1 bhk with no any home loan of any financial institute.
in last dec 12, i purchase flat for 32 lakhs. Now i want to shift in newly purchased flat and rent out present one from 1 may 2013.
This year i will pay 268000 as a interest part,
so, i how i can get tax benifit for above amount.
in last dec 12, i purchase flat for 32 lakhs. Now i want to shift in newly purchased flat and rent out present one from 1 may 2013.
This year i will pay 268000 as a interest part,
so, i how i can get tax benifit for above amount.
srinivas reddy
(Expert)
03 May 2013
According to section 24 of income tax in house property you will get deduction up to 150000 ., unless u have to follow the other income tax act conditions .
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