19 June 2008
Suppose I am currently staying in a rented house. Now, I opt for buying a house (mainly from the investment perspective)by availing a home loan, and put it on rent to a third party. Am i eligible to claim both, ie.: a. The house rent that I am paying and b. The interest that I am paying on the home loan which will be subsequently be adjusted against the rental income when I compute Income from house property.
Is there any other mode to claim both interest and house rent as deduction.