Interest on borrowed capital under house property

This query is : Resolved

CA Khyati Pithadia (Querist)
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05 March 2014 Hello,

One person owns two house, one of them is self-occupied and another is occupied by his parents. Whether interest on borrowed capital is taken as deduction under the head house property for both the houses ?

If yes, then what is its treatment and how it is taken ?

Thanks in advance.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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05 March 2014 yes interest shall be allowed on both the houses. On self occupied property, interest shall be restricted to Rs 1.5 lakhs.

the other property shall be deemed to be let out and full interest shall be allowed against it without any limit.

CA Khyati Pithadia

CA Khyati Pithadia (Querist)
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05 March 2014 Thank you very much, sir

Nikhil Kaushik

Nikhil Kaushik (Expert)
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05 March 2014 you are welcome khyati

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