Rental income

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ashu asnani (Querist)
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04 October 2013 I have a property that we have purchased through Bank Loan, now 50% portion of property is self use & 50% we have given on lease. Can we use 100% Interest amount paid to bank as expense from rental income or only 50% can be use. Pls. Confirm.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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04 October 2013 since ur the owner of 100% even though 50% given on lease still u will be eligible for 100% int deduction from rental income if it is considered as income from other source.

ashu asnani

ashu asnani (Querist)
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04 October 2013 If in company there is only rental income

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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05 October 2013 then its not business income or income from other sources but income from house property only and then u can only take 50% of benefit.

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