Income from house property

Dear Freinds,

One person having 2 houses, one is self occupied and another is let out property.

So Intereset on loan to taken to construct the self occupied house is up to Rs. 150000 and for let out property, we can claim interest on loan taken without any limit.

So, can we claim the repayment of loan taken for construction of self occupied and let out property as a deduction u/'s 80C.

                                                                                                 or

80 C deduction only on self occupied and not for let out property.

Kindly let us know.

 

Thank you.

 

 

 

Replies (2)

Section 80C of I.T Act,1961 covers the repayment of principal of housing loan. It does not prescribe any condition as to whether it is let out or self occupied.

Yes, You can we claim the repayment of loan taken for construction of self occupied and let out property as a deduction u/'s 80C.

Extracts of Sec 80C

Any sums paid by an assessee for the purpose of purchase or construction of a residential house property, the income from which is chargeable to tax under the head “Income from house property” (or which would, if it has not been used for assessee’s own residence, have been chargeable to tax under that head) where such payments are made towards or by way of any instalment or part payment of the amount due under any self-financing or other scheme of any Development Authority, Housing Board etc

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
28 August 2026
Assistant Manager

NRS AND ASSOCIATES

Kozhikode

CA Inter

View Details
Company
Featured 21 September 2026
Consultant - Reporting

Finrep Advisors LLP

Mumbai

CA

View Details
Company
19 September 2026
CA/Semi-CA/BCom

Pravin Sarvaiya

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 01 September 2026
Articles

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Foundation

View Details
Company
28 August 2026
Audit Manager

K A R M & CO

Mumbai

CMA

View Details
Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details
Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details