One of our clients has a house property in Bangalore however he resides in Central government allotted flat in Mumbai. He wants to claim Bangalore house as Self occupied(occupied by parents). Is it possible? The house is lying vacant. He has a loan outstanding for that house and wants to claim interest deduction. Please help
6 Replies
sunil
(ca final student)
(41 Points)
Replied 25 September 2013
Yes , it is self occupied property & claim deduction intt. on housing loan bacause more than one house property.
CA Pallav Singhania
(IT System Auditor)
(33362 Points)
Replied 25 September 2013
Yes, you can claim any one as a self occupied and another as a let out property,
However, you can claim only one property as a self occupied,
More than one property will be treated as a let out property....
Nimesh Goyal
(Student CA IPC / IPCC)
(30 Points)
Replied 26 September 2013
He can claim that house as self occupied.
Yogesh puri
(To become a CA)
(32 Points)
Replied 28 September 2013
yes he can can claim the house as an self occupied because employment compulsion as per the income tax act 1961
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