Urgent reply for home loan
Querist : Anonymous
my query is
1)Do i have to pay tax on that flat treated as let out even it is not let out?
2)Whether i can treat it as self occupied because i am residing in govt quarter and i have only one flat in my name?
3) how can i avail tax deduction u/s 24b and 80c for that flat
2. You cannot treat self occupied since you are staying in Government quarters in the same city
3.If you can actually let out the property and getting rental income then you can claim the rental income and claim the interest deduction & principal also. or treat as deemed to be letout and arrive the nominal rent or fair rent as per municipal authorities valuation and show the rent and you can claim the deductions
Querist : Anonymous
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