Hi, Can anyone please tell if a house property is self occupied for part of the year & Let out for part of the same year.
Would i be entitled to unlimited interest deduction as in case of let out property or is interest deduction capped at 150,000 ????
If the property is self occupied for a part of the year and let out property for a period then it shall be taxable as if the property were to be a let out property for the whole year.
hence full deduction of interest is allowed.
Hi
I think u can get a great idea about this topic through mortgage claim its very helpful.
For further information please visit: www(dot)mortgageclaimservices(dot)co(dot)uk
no threshold limit shall apply as it is deemed to be let out
CAclubindia
