Sec 24
This query is : Resolved
vinod kumar
(Querist)
26 June 2014
Dear experts,
is it possible to claim interest on borrowed funds for two house properties, (both are letout properties).
Nikhil Kaushik
(Expert)
26 June 2014
depending on whether you have business income or not, use ITR2 or ITR4 (assuming that you are not a firm, AOP, society or a company). In the "HOUSE_PROPERTY" Sheet, provide details of each property like address, your ownership percentage, Y in the column "is the property let out?", rent received and in row "g" interest paid on borrowed capital for each property separately.
Nikhil Kaushik
(Expert)
26 June 2014
depending on whether you have business income or not, use ITR2 or ITR4 (assuming that you are not a firm, AOP, society or a company). In the "HOUSE_PROPERTY" Sheet, provide details of each property like address, your ownership percentage, Y in the column "is the property let out?", rent received and in row "g" interest paid on borrowed capital for each property separately.
Rupesh Jain
(Expert)
27 June 2014
yes you can claim the intt paid of let out house but for that you have to give full particulars and also you have documents under with you prove your income and interest.
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