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Set of loss from HP from Salary income

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 January 2010 Respected Eperts,
Can loss due to payment Housing loan & pricipal amounton account of Self accupied house can be set off against Salary income. Kindly revert with details implication of loan taken for constructed house/old house.
Rgds
Anans
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
31 January 2010 Loss due to Interest on borrowed capital for self occupied property can be set of against salary subject to maximum of Rs.1.5.lakhs.Principal amount eligible in 80C Deduction
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Querist : Anonymous

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Querist : Anonymous (Querist)
31 January 2010 Thanks Ramesh!
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CA.Pujah

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CA.Pujah (Expert)
01 February 2010 House Property Loss is allowed to be set off against the salary income
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CMA Arif Farooqui

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CMA Arif Farooqui (Expert)
01 February 2010 Loss due to Interest on borrowed capital for self occupied property can be set of against salary subject to maximum of Rs.1.5.lakhs.

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