Housing loan interest

Hi,

Since the property is letout the entire interest will be deducted from the house property, the limit 1.5 lacs is only for self occupied property. Only if you incur loss from HP the same may be adjusted against the income of next year

Hi Gokul,

since the property is letout, entire amount of interest will be allowed as deduction under house property. Incase of Interest >rental income under HP, you can get it adjusted with any other source of income and if required if can be carry forward for next 8 yrs.

It will be allowed in current AY only, it cant be carry forward and availed in next year.

thanks

Mukesh