our one of the client has 2 shop located area building (ground floor)...and loan sectioned under housing loan .my Question is interest paid on housing loan for this rental property ...any benefit in income tax ..
I m consider rental income ....
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housing loan interest
Replies (3)
Yes, deduction available from the rental income of the shops.
The property may be used for any purpose but it should not be used for the purpose of any business or profession carried on by you, the profit of which is taxable separately.
You can claim
you can subject to you declare rental income or your residential property falls under section 23
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