80 & Sec.24 deduction of house property not let out

Tax planning 177 views 1 replies

Mr. A has income from house property,

Some of his property is letout for rent.

However,he acquired a new house under resedential housing loan & can he claim u/s 24 entire interest without any limit of 2lacs,as he has income from other house property.

i.e is individual assessee eligible for deduction u/s 24 without any limit on self occupied property.

However loan is taken jointly in the name of Mr.A & Mrs.A.

For 80C deduction, assessee has more than one resedential property but all covered under HP income computation either as SO or LO.

Replies (1)

The house property against which the loan is availed is relevant for the purpose. If such house is self occupied then deduction u/s 24 is limited to 2 lacs and if such house is let out, there is no limit for deduction u/s 24


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