Self-occupied Property

This query is : Resolved

Guest

Guest (Querist)

15 July 2009 Fact :

The Assessee is in abroad.

1. He has not stayed in his own house and also not given his house for LET OUT.

2. He has bought the house property on loan.

3. Whether he is eligible to claim interest up to Rs.1.50 Lacs on the fact that he has not given his house for LET OUT.

4. Clarify with relevant provisions under the IT Act.

Thanks for the response.

CA CS CMA Srinivasan N

CA CS CMA Srinivasan N (Expert)
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04 August 2009 Hi,

The assessee can claim interest deduction if there is only one house property and the same has not been occupied due to Employment in other places. In your case if the person is NRI and has employment outside India, he can claim the interest deduction for the property Loan.

Rgds