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.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

21 April 2014 you have got it right.....

Rupesh Jain

Rupesh Jain (Expert)
Follow

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.

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

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Aayushi Chauhan

KAVITA CHAUHAN

chandradhass sathish

ATUL MAKWANA

Tia Blair

Subscribe Now

Interest on loan exemption on house property

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANCY

CA Final

Accountant

GST CONSULTANT