if half of the property is letout in in that case interest on house property will be claimed proportionate to the self occupied & let out?
please clerify that if interst paid is 750000/-, how much is eligible deduction
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House Property
Replies (6)
Ya frnd,
H/L Interest will claim perportionetly nd in this case u can claim 375000/- for Let out portion & if u satisfy some condition in Self Occupy then u also claim Rs.150000/-.
If that condition not satisfy then u can claim only Rs.30000/- on self occupied property.
375000 and 150000 if property partly let out and partly self occupied............
| Originally posted by : SHRIPAL LUNIYA | ||
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Ya frnd, H/L Interest will claim perportionetly nd in this case u can claim 375000/- for Let out portion & if u satisfy some condition in Self Occupy then u also claim Rs.150000/-. If that condition not satisfy then u can claim only Rs.30000/- on self occupied property. |
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| Originally posted by : Rachit | ||
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375000 and 150000 if property partly let out and partly self occupied............ |
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agreed
If one property is partly let out and partly self occupied then it will be treated as 2 seprate property there for you will be prapossionatly claim Interest amount on the bassis of portion of property self occupied and portion of property let out. On self occupied property you claim interest amount either 1,50,000 or 30,000 the condition appicable to you.
3.75 Lacs to be adjusted from rent received and balance interest is accounted on self occupied portion
maximum deduction available against self occupied house property is 1.5 Lacs.
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