Interest on housing loan

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 July 2015 Dear Experts,
My boss has taken Home Loan for the property where he is now living. He is also having a Farm House. In FY 2014-15, he was living on rent and shown the Rental Income from the current property where he is now living and claimed the full Interest amount of HL. This year he has moved to this property and show the rental income from the Farm House.

My question is that can we club the rental income of one property with Interest on Housing loan of other property.

Br,

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

08 July 2015 rental income needs to be reduced by the amount of int on same

Rupesh Jain

Rupesh Jain (Expert)

08 July 2015 IF YOU ARE SELF OCCUPIED HOUSE THEN LIMIT U/S 24 IS RS. 200000/

YOU CANNOT CALIM MORE THAN RS. 200000/-TWO LACS

Querist : Anonymous

Querist : Anonymous (Querist)

08 July 2015 I know the Limit of Interest exemption. My question is can we take the benefit of full interest amount for one property whether we are taking rental income from other property.

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