If i have 2 house property from which i will consider 1 property as a deemed let out,
now my querry is whether interest which i paid on home loan is exempted u/S 24B or not?because i had not given that property on any rental..
So whether i can claim interest paid as exemption or not?
2L ;limit on interest claim, principle under 80C
But my question is whether I can claim interest as a deduction without any receipt of rent on such let out property?
Dear Friend,
For self-occupied property, Interest claimed u/s 24B is Rs. 2 Lakh.However, there is no limit of interest for let-out or deemed let-out property.
Hence, for tax planning purpose, you can treat DLOP of property whose interest paid is higher.
Regards,
Hardik Joshi
consider the property with the highest GAV as self occupied
CAclubindia
