I own a Duplex Flat which has two floors with separate entry for each floor. I let out one floor of the property for the rent of 1,20,000 p.a.. My Housing Loan interest is Rs. 4,50,000 p.a.. Can I claim 50% of Loan under section 24 (b) as an interest for partly let our property and Rs. 1,50,000 as interest for self occupied property both. considering I am a salaried employee. (If there is some case law to claim both please share).
Claim of housing loan interest on partly let out property
Nikhilendra Patel (Student CA Final ) (36 Points)
24 June 2013