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Set off of house property loss aganist salary income

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 February 2012 I have taken a loan from my Father. And paying interest @ 24% PA. The rent income is less then the interest payout. Can i set off this head loss from my Salary income.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
15 February 2012 In case self occupied property you can set off actual interest or Rs.1.50 lakh which ever is minimum
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Querist : Anonymous

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Querist : Anonymous (Querist)
16 February 2012 It is Letout Property..
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