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Tax benefit on sec 24 for two house properties

Tax planning 340 views 2 replies

Hi

New tax rule for FY 2017-2018 put a cap of 2 Laks for "loss from house properties". This limit was newly inserted for rented properties. Same limit was there for self-occupied properties in previous years.  

So if I have two properties, one self-occupied and another one rented, and for each I pay more than 2Lakhs as interest, can I claim upto 4Lakhs ?

I checked many posts here. But could not locate an answer.  Please help

Replies (2)

" if I have two properties, one self-occupied and another one rented, and for each I pay more than 2 Lakhs as interest, can I claim upto 4Lakhs?"

No. The total deduction under the head income from HP is capped at 2 lakhs of PY, and the remaining unadjusted loss is carried forward for to next 8 years. 

 

the reply above of sh Rambhia is as per law PL.


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