Rebate on housing loan for let-out property

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

25 June 2014 I have taken housing loan during last Jun-13 for purchase of new house, paid Interest around 3 lakh for FY 2013-14. The house property was vacant till end of Nov-13 and let-out Dec-13 onwards. I need to understand how much Interest I can calim as deduction for FY 2013-14 and how much Rental Income is to be taxable.

Rupesh Jain

Rupesh Jain (Expert)
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25 June 2014 you can claim the whole intt against the rental income without any limit. u/s 24(b)

Querist : Anonymous

Querist : Anonymous (Querist)

25 June 2014 Thnaks.

What about Rental Income, as property was let-out only for 4 months during FY 2013-14. It is taxable for 10 month (Jun-Mar) or only for four month.

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