mankaran (student) (53 Points)
24 November 2011Hi, Can anyone please tell if a house property is self occupied for part of the year & Let out for part of the same year.
Would i be entitled to unlimited interest deduction as in case of let out property or is interest deduction capped at 150,000 ????
praveen
(Chartered Accountant)
(6971 Points)
Replied 24 November 2011
If the property is self occupied for a part of the year and let out property for a period then it shall be taxable as if the property were to be a let out property for the whole year.
hence full deduction of interest is allowed.
Ajay malhotra
(consultant)
(23 Points)
Replied 29 November 2011
Hi
I think u can get a great idea about this topic through mortgage claim its very helpful.
For further information please visit: www(dot)mortgageclaimservices(dot)co(dot)uk
Mohit Jangid
(Article)
(141 Points)
Replied 01 December 2011
no threshold limit shall apply as it is deemed to be let out
CAclubindia
