Interest allowable on let out house

This query is : Resolved

M VENKAT REDDY (Querist)
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19 June 2012 Dear Sir,

I have two houses in Pune. One is sef occupied & another is given on rent. Iam paying Interest on Housing loan for Self occupied Rs 175000/- & on rent given house Rs 225000/-. How much interest deductable on let out House ? Any restruction on amount as like self occupied Rs 150000/-.Please go through below my working & correct me.

Rent received - Rs 180000
Muncipal Taxes paid - Rs 10000
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Net value Rs 170000
Standard Deuction - 30% Rs 51000
Interest on Loan Rs 225000
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Loss on House property Rs 106000

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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19 June 2012 Loss from house property will be as follows-

Loss as computed by you on let out property= Rs.106000
Loss from SOP= Rs. 150000(Interest max Rs 150000 is allowed)

Total Loss= Rs.256000