Interest on Housing Loan and for rented property-Ay 2019-20

This query is : Resolved

ST SHARMA (Querist)
Follow

31 July 2020 Dear expert

Brief: For Ay 2018-19- Person have taken Property On housing Loan, Earlier he was taking Benefit of interest paid on Housing Loan u/s 24 and Principle payment under 80C .

Query- In Ay 2019-20, he has rented this property, still paying his housing Loan with interest and principle. Can he get the benefit of such interest and principle payment for ay 2019-20

Where this rented income can shown to income from other sources, or any other treatment.

Thanking you for your valuable time

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

31 July 2020 Yes, he can get the benefit of such interest and principle payment for ay 2019-20. Show the rental income under income from house property.

ST SHARMA

ST SHARMA (Querist)
Follow

01 August 2020 But sir , while we select the option in ITR self occupied property , the option of let out property get freez, so not able to fill the details of rental income.

Pls advice

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

01 August 2020 Choose option in ITR rental property.

ST SHARMA

ST SHARMA (Querist)
Follow

01 August 2020 thnks for reply sir, but if i select rental property in itr-1 for salary employee..then option for Interest paid on loan for house property get freez, then i am not able to fill the interest amt.
Pls advice

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

01 August 2020 File online ITR 1 it will be allowed.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now