Income from rented property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 May 2013 sir, I have one query that, suppose a person X has two houses one house in which he is residing has no loan on it and second house has housing loan on it and also he let out the same house on rent. He is salaried person, then in such case, where he can claim exeption of interest paid on hsg loan under salary income or under income from rented property. Please guide me.

Guest

Guest (Expert)

25 May 2013 As per income tax act, the deduction of interest paid on loan is claimed under the head Income from House property only and not from any other head.

But in form 16, the interest is deducted with salary income(some forms which i saw)

But when you file the return of income it should be deducted form the Income from house property head only