Housing loan interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 April 2012
Can a employer give the exemption to his employee of interest on Housing Loan for 2 property including one of them is Self Occupied Property while computing the total income for the year?
20 April 2012
As for Section 24 deduction, on your self occupied house you can take advantage of interest payments up to Rs.1,50,000. For the other property, you can claim actual interest repaid, there is no limit for the same.
Please remember that the second house will be deemed have rental income and interest will be adjusted against that.
Please remember that the second house will be deemed have rental income and interest will be adjusted against that.
20 April 2012
As per Sec 192, an employee can give declaration to employer relating to his income from house property based on which the employer will deduct TDS.
As explained by expert, if u have more than 1 HP, u need to declare which one is SO and which one is LO and DLOP.
As explained by expert, if u have more than 1 HP, u need to declare which one is SO and which one is LO and DLOP.
20 April 2012
The experts are correct and I agree with them
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