Dear expert,
Can an assessee claim deduction for whole interest paid on home loan if only one room has been let out during previous year?
2 Replies
vinayak landge
(B.Com)
(136 Points)
Replied 01 October 2020
If the loan is taken for house property as a whole, then interest deduction will be available proportionately i.e. the area given on rent and area self occupied
in case of let out portionthere is no limit for interest deduction and
in case of self occupied portion upto rs. 200000 can be claimed
in case of let out portionthere is no limit for interest deduction and
in case of self occupied portion upto rs. 200000 can be claimed
ayusmita
(Tax consultant)
(5885 Points)
Replied 01 October 2020
You can claim interest but you have to show both
let out as well as self occupied
let out as well as self occupied
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