Interest on housing loan

if the property on which loan is taken is considered let out then whole of intt paid will be allowed as deduction under sec 24b otherwise max upto 200000 in current yr if considered self occupied.

Hi Tribhuvan

The question here was how the interest payment would be treated if the property is not let out and neither self occupied. Property remaining vacant without occupancy.

Regards

Soorya

answer is related to that only... let me help you understand it... if the owner currently resides in rented place, then this property will be treated self occupied if vacant and intt will be allowed subject to max 200000. if it will be let out then whole of intt will be allowed under 24b..... now if the owner currently lives in own house then he has two properties now. in that case he has option to select any one house as self occupied and another will be deemed to be let out. if the house on which loan is taken is treated self occupied then intt allowed upto 200000 max, but if treated deemed let out the whole of intt will be allowed...... any more query then feel free to ask.