banner_ad

Interest on loan exemption on house property

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
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.
Profile Image

Nikhil Kaushik

Profile Image

Nikhil Kaushik (Expert)
21 April 2014 you have got it right.....
Profile Image

Rupesh Jain

Profile Image

Rupesh Jain (Expert)
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


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details