Interest on loan exemption on house property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 April 2014
Dear All,
Please suggest what amount of deduction would be allowable for interest on loan for house property as per section 24 when the same property is self occupied and let out. Suppose interest amount is Rs. 300000 then under self occupied max limit is 150000/- and for let out there is no limit. hence whole 300000/- is deductible !!! is it so or some different treatment please suggest.
Please suggest what amount of deduction would be allowable for interest on loan for house property as per section 24 when the same property is self occupied and let out. Suppose interest amount is Rs. 300000 then under self occupied max limit is 150000/- and for let out there is no limit. hence whole 300000/- is deductible !!! is it so or some different treatment please suggest.
21 April 2014
you have got it right.....
22 April 2014
if your house is separate two unit then you can divide the intt 50%-50% then you can claim if you are retain some part of year self occupied and some party rental then you can claim all amount on intt.
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