Interest deduction u/s 24

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 March 2015 I am working in Noida, UP and have a residential flat in Noida, whether I can declare the same as let out and claim the full interest deduction u/s 24 or is there any case law, if the office and home is in same city then home can only be declared as self occupied.

Also in that case whether i will allowed to have HRA deduction.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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23 March 2015 firstly have u even took a loan on such house property?

Querist : Anonymous

Querist : Anonymous (Querist)

23 March 2015 Yes, i have taken home loan and house is constructed within 3 years time, from loan initiation date.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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23 March 2015 for self occupancy u need to prove (in assessment) that you own it.

if u have taken loan on delhi house then it will be on sop only as ur owner of delhi house and u can claim int upto 200,000 rs only from ay 15-16

Querist : Anonymous

Querist : Anonymous (Querist)

24 March 2015 I think you didn't read the questions fully, i know for self occupied there is limit of 200,000 u/s 24(b), but my question was if the office and home are in same city whether that residential property can be declared as let out and to claim the full interest deduction u/s 24(b)

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