Interest on Housing Loan and for rented property-Ay 2019-20
This query is : Resolved
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
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
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.
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
Pls advice
01 August 2020
Choose option in ITR rental property.
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
Pls advice
01 August 2020
File online ITR 1 it will be allowed.
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