intt on loan

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Querist : Anonymous

Querist : Anonymous (Querist)

16 July 2011 sir,
1....if assesse have no income from H.P., intt. on loan deduct from income frm h. property?
2.... if property is jointly held then what will be treatment of intt. on loan & repayment of loan.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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16 July 2011 loss from house proerty can be set off against any other income in the current year.

in case of joint property deduction allowable on respective ownership proportion of the property.