An Individual Salaried Employee is having a Self Occupied House Property. He has no other house properties. He is paying 3 lacs per annum toward Principal of Housing loan and 5 lacs towards housing loan interest. How much will be allowed as deduction for the assessee while calculating his taxable income assuming he has no other Chapter VI deductions.
Will there be carry forward of unadjusted losses allowed to the future periods to set it off against his salary income?