Murali Rotti Sathyanarayana (Manager of Accounts) 25 June 2019
I am having 2 house.. In 1 I am staying and in another my parents are staying, so both are self occupied.. I paid a total interest of 3,45,000 rupees to bank during FY 2018-19..
Interest for my house 1,95,000
Interest for my parents house 1,50,000..Both house registered in my name.
Please let me know what is the admissible interest under section 24(b) for AY 2019-20..
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Suresh Thiyagarajan (Student) 25 June 2019
1. According to sec 24(b) there is no restriction to claim interest on borrowed capital if it relates to two houses separately.
2. In your case, you can claim interest on borrowed capital for both the houses.
Please correct me if the above solution has an alternative view.