03 January 2013
dear sir, Presently i am living 1bhk falt say (x)having NO any financial loan on living flat. In dec 12 i purchase new flat say (y) having loan of Rs 2600000. Now if i occupy flat (y) for living purpose and rented out (X)to tenant. wheather can i get interest (which i paying for flat (y)) subsidy under 24c .
03 January 2013
for self occupied property you will get only upto Rs. 1.5 lakh as interest deduction This loss from SOP can be sett off against rental income from X flat.
07 January 2013
If this loss from sop is greater than rental income of flat X then how to get tax benifit. this means income from these flat become -ve. so, is their any provision of getting tax benifit of this -ve income from my salary income.
07 January 2013
to the exten the loss is greater it well be available to be carried forward and set-off against income from house property of subsequent years upto a period of 8 years successively
CAclubindia
