I have got 2 properties - One in Delhi (A) and other in Noida (B). Property A is rented and Property B is self occupied on which I have a home loan. I am having annual rental income of Rs 2.4 lacs from property A and paying interest of Rs 5.5 lacs on property B. Can I get a benefit under Section 24b on Rs 3.1 lacs ( 5.5 minus 2.4).
I have looked at section 24b and it clearlys states that we can offset the loss from one property from the income from another if both the properties are rented but I am not sure what if one is rented and the other is self occupied.
CAclubindia
