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IIT Kanpur (Querist)

12 July 2016 Sir
i am cent govt employee living in our parents house with joint family, i had taken a loan for purchase a land and constructed home on it. the house is vacant as i am living in parent's house', so there is no housing income from it. i am paying Intt Rs 55829 and Principal Rs 107000. i can take claim of principal amount in 80C but where i can get claim of interest on home loan for AY 2016-17. i had taken claim last year in sec 80EE in ITR but now it is removed for AY 2016-17. if i claim it in housing income then income of house will be in minus 55829 and it will reduce our total income. should i claim it in the head of income from house property ?

Anup Kumar
IIT Kanpur
Employee..

Amol S Joglekar

Amol S Joglekar (Expert)

12 July 2016 one house property at the option of assessee can be regarded as SELF OCCUPIED.....(Even though vacant)
The interest on the housing loan can be claimed as LOSS from house property

please go through following link for section 24

https://www.incometaxindia.gov.in/Pages/acts/income-tax-act.aspx

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