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House Property

chandan (finance head) (42 Points)

09 March 2011

if half of the property is letout in in that case interest on house property will be claimed proportionate to the self occupied & let out?

please clerify that if interst paid is 750000/-, how much is eligible deduction

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6 Replies

CA SHRIPAL LUNIYA (CA, CS Final & M.Com) (744 Points)
Replied 09 March 2011

Ya frnd,

H/L Interest will claim perportionetly nd in this case u can claim 375000/- for Let out portion & if u satisfy some condition in Self Occupy then u also claim Rs.150000/-.

If that condition not satisfy then u can claim only Rs.30000/- on self occupied property.

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Rachit (Ca-Final Article.) (565 Points)
Replied 09 March 2011

375000 and 150000 if property partly let out and partly self occupied............

Ramya Kinthali (Financial Consultant) (108 Points)
Replied 09 March 2011

Originally posted by : SHRIPAL LUNIYA
	Ya frnd, H/L Interest will claim perportionetly nd in this case u can claim 375000/- for Let out portion & if u satisfy some condition in Self Occupy then u also claim Rs.150000/-. If that condition not satisfy then u can claim only Rs.30000/- on self occupied property.

(Guest)

Originally posted by : Rachit
	375000 and 150000 if property partly let out and partly self occupied............

agreed

Navina (Artical) (64 Points)
Replied 10 March 2011

If one property is partly let out and partly self occupied then it will be treated as 2 seprate property there for you will be prapossionatly claim Interest amount on the bassis of portion of property self occupied and portion of property let out. On self occupied property you claim interest amount either 1,50,000 or 30,000 the condition appicable to you.