Dear expert,
Can an assessee claim deduction for whole interest paid on home loan if only one room has been let out during previous year?
Menu
Deduction of home loan interest
Replies (2)
Quick Summary
If the loan is taken for house property as a whole, then interest deduction will be available proportionately i.e. the area given on rent and area self occupied
in case of let out portionthere is no limit for interest deduction and
in case of self occupied portion upto rs. 200000 can be claimed
in case of let out portionthere is no limit for interest deduction and
in case of self occupied portion upto rs. 200000 can be claimed
You can claim interest but you have to show both
let out as well as self occupied
let out as well as self occupied
Recent Topics :
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
- GST Treatment and Reporting of Share & Mutual
- AGM Defective Notice
- IMS Rejection of Sales and Sales return
- Taxation of Gift - Father to Daughter
- TDS on Property Purchased above 50lakh
- Accounting Treatment in Tally for Restaurant Sales
- Form 146 required
- Rule 86(B) Applicability
Related Topics :
CAclubindia
