Interest paid for House whcih is given on Rent
This query is : Resolved
Quick Summary
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
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
21 February 2020
2,35,000 can be claimed as deduction u/s 24(b) leading to a loss under the head 'income from house property'.
07 April 2022
Thanks Sir for providing solution to my query
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