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House property

16 October 2020

Can interest paid on house loan from self occupied property be adjusted against rental income from second let out house property?

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5 Replies

kalpana giri (11 Points)
Replied 16 October 2020

If loan paid only self occupied property then you can not utilised loan amount on second let out property.

Anand Singh Bhandari (57 Points)
Replied 16 October 2020

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.

ayusmita (Tax consultant) (5890 Points)
Replied 16 October 2020

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

Mohd Khalid (493 Points)
Replied 16 October 2020

Don't be worry just compute the income of both houses and mention interest paid in sec 24 and principal amount under sec 80C

Sunil Sunny Kumar (61 Points)
Replied 17 October 2020

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.