Interest on house proerty and repayment
This query is : Resolved
03 December 2016
My Client has got first home rent receipts Rs.1.50 lakhs no loans. He already got second home letout and rent receipts Rs.90,000/- ( interest Paid Rs.72,240/- and Principal repayment Rs.20,160/-) and he got third home purchased during the year fy 2015-16 and rent Receipts Rs.2,40,000/- ( Interest Paid Rs.1,75,226/- and Principal Repayment Rs.75,474/- ) (i) Can he claim interest on both letout house u/s 24(b) (ii) Can he claim Principal repayment on both house u/s 80-c
03 December 2016
Yes interest and repayment of principal can be claimed on both the houses
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