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Can interest paid on house loan from self occupied property be adjusted against rental income from second let out house property?
Replies (5)
Quick Summary
If loan paid only self occupied property then you can not utilised loan amount on second let out property.
My query is in r/o calculation of income from house property wherein first house is self occupied and second house is let out and interest on loan is paid for first house but no loan taken for second house.
Computation made separately as per the act
rental as per standard deduction
self occupied as per your interest and the
principal will as per 80C
rental as per standard deduction
self occupied as per your interest and the
principal will as per 80C
Don't be worry just compute the income of both houses and mention interest paid in sec 24 and principal amount under sec 80C
You calculate income separately house 1 and house 2 in house property shedule and in sop loan you claim in this hose and show income of let out house in let out property afterwards you total house property income will calculated as house property income.
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