Tax exemption for interest on home loan
This query is : Resolved
04 April 2019
Hi, I recently purchased a home with the help of home loan. I will be staying in this house myself and also intend to let out on rent for Paying guest.
So for taxation perspective, can all the interest I pay on home loan be exempted from tax if i include additional income from house property in lieu of income from PG
So for taxation perspective, can all the interest I pay on home loan be exempted from tax if i include additional income from house property in lieu of income from PG
CA PARAS BAFNA
(Expert)
04 April 2019
Logically, you can claim deduction of full interest in respect of the proportionate let out area of PG against rental income. For your SOP portion you can claim interest up to Rs 2.00 lacs.
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