Interest on house loan <1998 vs income on ..

An assessee has taken House Loan in 1998.  You know the interest exem[tion is limited to 30,000 (if it is self-occupied)

He let out the property @ 2,000/- p.m. He is paying interest (say) 50,000/-.

If he discloses the income from house p[roperty, can he claim entire interest exemption.

Replies (1)

Yes he can claim the total interest paid in case of property is rented out but AO can check the fair rent in case of scrutiny pls mind it!!!

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register