Interest on borrowed capital in relation to housing loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 June 2017
How much interest on borrowed capital is allowed for deduction against Rent Collected From House Property For the Assessment year 2018-19?
08 June 2017
Actual interest can be claimed u/s 24(b) if the end result is not a loss. But, if the income from house property is showing a loss and interest on borrowed capital is more than Rs.2,00,000 then the loss to be carried forward will be restricted to the actual loss or 2,00,000 which ever is less.
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