Dear Reader,
I am Naveen. I got a flat for home loan and since my wife work location is far awar I have rented the flat.
My queried are:
1. Can I claim the complete intereest I am paying since I have rented the property.
2. Can I claim principle tax excemption under 80C?
3. How do I show the rental income and how to calculate the rental income.
Is there any rule, if my office is near the flat (5-6km), I can not claim it as rent out property and if I claim there can be audit issues.
Regards,
Naveen N
CAclubindia
