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Interest on Housing Loan
A person has two flat. One is old. Bought one flat in 2017-18 booked in earlier years, interest was shown in Balance Sheet. Now what to do when flat's position taken in 2017-18 Asst.Year 2018-19. Both flats are vacant and he reside in parental house.
Replies (4)
Declare old flat as 'deemed let out' while declare the new flat as Self Occupied and claim maximum upto 2 lakhs interest paid u/s 24(b), over Home loan.
Show any one of your HP as Self occupied ( based on your opinion)
If I show one flat as deemed let out how will we consider amount of rent.
Please refer this link https://www.caclubindia.com/articles/house-property-income-computation-935.asp
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