Interest paid for House whcih is given on Rent

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This discussion clarifies how to handle interest paid on a housing loan for a property that is rented out. The owner received ₹175,000 in rent and paid ₹235,000 in interest during the 2018-19 financial year. It's confirmed that the interest paid can be claimed as a deduction under Section 24(b) of the Income Tax Act, resulting in a loss under the head 'income from house property'.

K P BHANUSHALI

K P BHANUSHALI (Querist)
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21 February 2020 Hello Friends,

A House is owned by me in mumbai. This House is given on rent and a housing loan is taken for this House.

House Rent Received during the Financial year 2018-19 is 175000 & Interest paid to Bank is 235000.

So, my query is what will be effect of such scenario.

How to show the Net Loss from Let Out Property ?

T & R
K P Bhanushali