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Interest on housing loan - Income from House Property

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Sagar Diwakar

4 Points Posted on 11 February 2021

One of my client has two house properties. One is self occupied and another one is let out. He is offering rental income under income from house property. He has housing loan for both the properties. For A.Y. 2021-22, Interest on housing loan for let out property is 215000 and Interest on self occupied property is 230000. Rent income from let out property is 180000. Now, Can he claim the interest on housing loan against both the properties?

Replies (2)

Quick Summary

This discussion explores the deductibility of housing loan interest for a client with two properties: one self-occupied and one let out. The client receives rental income and has incurred interest on loans for both properties. The core question is whether the client can claim the full interest paid on both loans, considering the maximum deduction limits for self-occupied properties.

Kapadia Pravin

17269 Points Posted on 11 February 2021

Interest on SOP can be claimed to 2 lakhs that is maximum. For let out property, interest of 215000/- can be claimed as there is no prescribe ceiling limit.