One of our client is working in US since 2005, He is NRI as per the Income Tax Act 1961, He has constructed house In India in 2009 and barrowed a loan from a bank here, after the construction he has let out the property . He is making payment towards bank loan from US through transfer to NRO A/c .Now the question is whether the income arising from house property in India will be taxable in India (Income acrued in India) ? or Can he show the Income and payment towards loan in US can claim deduciton there ? And if taxable in India TDS deducted Can be claimed ( rent exceeding 180000 Rs.) after filing the returns ?
Pls suggest me in this regard ......
Thanks in advance
CAclubindia
