12 February 2018
we have taken housing loan from the bank. till march-2017 we have recd rent and adjusted the interest on housing loan. but the same building was leased out for 3 years in the month of june-2017. My doubt is shell we claim the interest from rent recd on other property.Kindly treat this as urgent and give your valuable advise in this regard
12 February 2018
Interest on loan taken for a property to be adjusted first from the income of same property. The unadjusted interest can be adjusted against income from other property also.
CAclubindia
