Hi All,
How do I calculate Income/Loss from house property when I have stayed in the house for 8 months and stayed on rent for 4 months (in a different city)? The house is on loan and I claim deduction for principal as well as interest on the home loan. My understanding is that while it was in self-possession it came under the limit of INR 150000 for interest and became actuals when I moved on rent (to another city) and rented it out.
Kindly help me understand with example so that I can calculate exemption correctly.
Regards
Amit
CAclubindia
