Madhumita khan (not yet) (31 Points)
15 February 2013Can anybody answer this ?
If a property is let out for 10 months and self occupied for 2 months then in that case,it will be calculated as if the poperty is let out throught out the year i.e. for 10 months,but my question is,if the interest on loan of the property is Rs 165000,so in such case what will be the interest on loan U/S 24(b)?
Will it be RS 150000 Because of the restriction on self occupied loan interest or it will be RS 165000 for the let out reason???
Please Answer!!
CA Neil Ganatra
(Partner - Gautam Joshi & Co.)
(871 Points)
Replied 15 February 2013
It will be considered as let out for the whole year and hence 165000 will be considered as interest.
Madhumita khan
(not yet)
(31 Points)
Replied 15 February 2013
CA Neil Ganatra
(Partner - Gautam Joshi & Co.)
(871 Points)
Replied 15 February 2013
yes..any doubt?
CAclubindia
