Income under the head house property

This query is : Resolved

CA Shruti kuchhal (Querist)
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02 July 2013 one of our client is having a rental income. He has taken loan against that property to purchase another property and has paid interest on that, now, he wants to adjust the interest paid against the rental income under section 24(b). Can he do so

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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02 July 2013 Interest paid can be shown against the income of the new property. You have to obtain interest certificate from the bank.
.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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02 July 2013 Interest under sec.24b can be claimed only the particular house which the loan for the purpose of construction or acquisition

cannot be adjusted with in the house

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CA Shruti kuchhal

CA Shruti kuchhal (Querist)
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02 July 2013 Thanx CA Bafna sir and CMA ramesh sir for the quick reply