if the housing property is letout and rental income is accounted the limt of
rs 150,000/- cealing for deduction of interest on borrowed capital will not arrise -
the actual interest paid on housing loan is deductable without any cealing
clarify
Menu
Deduction of housing loan interest
Replies (2)
Yes you are exactly right.
The quantum of deduction is fixed only in case of a self occupied property and not in case of a let out property.
for your kind information interest exp under section 24(b) is allowed on Accural basis
Recent Topics :
- Clarification on September 2026 PF Calculation for
- DRC-03 interest paid under CGST/SGST instead of IG
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
- GST SALES RETURN MISSING 2025-26 FY
- Enquiry on FAST-DS system generated email
- Capital gain on sale of agriculture land
- Demand from TRACES
- FY 2025-26 ITC CLAIM DUE DATE
- 96084000 and 48202000 HSN code ka Tax Rate kya hai
Related Topics :
CAclubindia
