Interest on borrowed capital
This query is : Resolved
31 October 2009
hi!
If a property is partly let-out and partly s/o OR part of the year self occupied and part of the year let out, whether the ceiling limit of 30000 or 150000 will apply u/s 24(b)
if yes, how?
If a property is partly let-out and partly s/o OR part of the year self occupied and part of the year let out, whether the ceiling limit of 30000 or 150000 will apply u/s 24(b)
if yes, how?
31 October 2009
Ceilling limit is applicable for self occupied house property,
so ur using part house as self occupied the limit is applicale to that portion only not for the let out house,
so ur using part house as self occupied the limit is applicale to that portion only not for the let out house,
31 October 2009
Supose u incurred interest Rs 400,000 for the complete house .
now the intt for the s/o will be 200,000 but allowed only rs. 150,000
for the letout u can claim COMPLETE Rs. 200,0000
now the intt for the s/o will be 200,000 but allowed only rs. 150,000
for the letout u can claim COMPLETE Rs. 200,0000
31 October 2009
THANKS A LOT
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