Offset interest on let out flat.

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neha (Querist)
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06 December 2021 if flat is let out to tenant , and person is paying emi on home loan for that flat,is the max limit to offset that interest only 2 lakhs? which form should be used if more can be offset currently using itr1.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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06 December 2021 In case of let out property no ceiling on interest payment.
File ITR 1 as let out property full interest is allowed.

neha

neha (Querist)
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12 December 2021 in itr 1 it caps at 2 lakhs even if filing as let out

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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13 December 2021 Software problem file ITR 2 in such a case.

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