Claim of housing loan interest on partly let out property

Tax planning 2826 views 2 replies

I own a Duplex Flat which has two floors with separate entry for each floor. I let out one floor of the property for the rent of 1,20,000 p.a.. My Housing Loan interest is Rs. 4,50,000 p.a.. Can I claim 50% of Loan under section 24 (b) as an interest for partly let our property and Rs. 1,50,000 as interest for self occupied property both. considering I am a salaried employee. (If there is some case law to claim both please share).

Replies (2)

Yes you can do that because U/C IHP computation has to be done on unit basis, even if part of the property is let out then computation is done for that also

I Am totaly agree with my Friend Z, Calculation is Unitwise, You can Claim 50% Interst on Let out Portion & Rs 150,000/- on Self Occupied Portion


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