I have 2 properties A and B. I have taken a housing loan for property A and total Interest paid during the year is Rs. 6,50,000. Property A is self occupied, property B, howerver is NOT let out.
So here I vl have to show Property B as deemed let out. And in case of Property A i can get deduction of only Rs. 1,50,000 out of the total interest paid.
My question is:-
1.Can i claim the deduction of total interest paid against Property B, inspite of the fact that the loan has been taken for Property A ?
2. Also if i have Self Occupied Property A only for 6 mnths in the year, n let it out for the remaining 6 mnths, can i claim deduction of the total interest paid during the year.ie 6,50,000 against the let out portion of the property.
Pls help.
CAclubindia
