House property income

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190 Points Posted on 26 December 2020
I have 2 property, 1st self occupied
2nd one is let out.

can I take benefit of both housing loan principal and interest in ITR?
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On 26 December 2020 at 20:38 Report
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This discussion clarifies the tax benefits available for housing loan principal and interest when you have both a self-occupied and a let-out property. You can claim deductions for both under Section 80C for the principal and Section 24(b) for the interest. While the interest deduction for a self-occupied property is capped at £200,000, there is no such limit for a let-out property.

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734 Points Posted on 26 December 2020
Yes but maximum deduction available for sec 24(b) for self occupied house is 200k
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On 26 December 2020 at 20:57
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4533 Points Posted on 26 December 2020
Yep
for self occupied max 200000
for rented unlimited
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On 26 December 2020 at 21:07
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190 Points Posted on 26 December 2020
Can take benefits of both housing loan principal at the filing of ITR
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On 26 December 2020 at 21:23
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734 Points Posted on 26 December 2020
Loan principal u/s 80C and interest us 24b when income is taxable under hp whether self occupied or let out
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On 26 December 2020 at 21:26

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