Partly let out partly self occupied interet u/s 24b

Tax queries 3314 views 1 replies

A person is having one house divided into four equal residential units i.e. Unit A, Unit B, Unit C, Unit D.

Unit A is self occupied by the assessee while Units B,C and D are Let Out at Rs. 300000 p.a. each.

Interest for the whole house for Financial Year 2011-12 is Rs. 10 lacs p.a.

Please tell me the deduction of interest u/s 24(b) for the financial year 2011-12.

Also tell me the detailed computation of income tax in case the assessee is having other income of Rs. 2 lacs.

Replies (1)

 

    A B C D Total
Rent   0 300000 300000 300000 900000
Less: 30% 0 90000 90000 90000 270000
      210000 210000 210000 630000
Share of Interest 250000 250000 250000 250000 250000
Max Allowed u/s 24(b) 150000 250000 250000 250000 900000
             
Income/(Loss) from House Property -150000 -40000 -40000 -40000 -270000
             
Other Income         200000
             
House Property Loss C/F       -70000

 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
16 June 2026
Sr. Associate / Assistant Manager | TAS / FDD

Boutique Investment Bank & Transaction Advisory Firm

Gurgaon

CA

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details