Hi,
I have got a query.....
U/s 24(b) interest paid on borrowed capital for House property is deductible from income subject to specific conditions. The max amount id 150000/- or 30000/- in case of self occupied property.
is there any other provision for let out property or the same limits are applicable to that also?
Please let me know about the same........
IN CASE LETH OUT PROPERTY NO LIMITS R THERE
No Limit for Let out property....
| Originally posted by : Aditya(future ca) | ||
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IN CASE LETH OUT PROPERTY NO LIMITS R THERE |
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no limit
you can cliam any amount of interest for capital borrowed for construction or purchase of rented property only you not get deduction for housing loan if you are alredy exhusted the limit of Rs 100000
No limits for Rented Property for Claiming deducation u/s 24.
Regarding interest amt.u can claim unlimeted deduction u/s 24 for let out house property
.
no limit nd u get principal in sec 80c
Dear no other provission for self occupied property.
u can also claim u/s 80 c for housing loan but limit applicable in sec . 80c
no limit for let out property
In case the House Property is rented, there is no limit but you have to declare Income from House Property & the annual rent should be more than or equal to interest.
If loan is availed for house renovation, then the interest up to Rs. 30,000 pa is allowed as deduction.
hello , tanvi..
Can you please support your answer by sections , and if you saying so , then there woulnt be any negative income in house property ,
CAclubindia
