CA HIRAL PATEL (CHARTERED ACCOUNTANT) (536 Points)
02 December 2013What will be the situation if let out house for which deemed income is not shown in income from HP and claim interest on let out..it can do so or not.
If the house is not actually let out and if the assessee has more than one houses, he can choose one as self occupied and the other will be deemed to be let out.
On the self occupied house, he will get hsg interest deduction upto Rs 150000/-
On the deemed to be letout house, unless the deemed income (Annual rent) is not shown as income, hsg Interest deduction cannot be claimed.
So, that interest will be disallowed.
CA HIRAL PATEL
(CHARTERED ACCOUNTANT)
(536 Points)
Replied 04 December 2013
Thank CA.Madhvi for reply....
but one more qu. if deemed income not shown...& if this case is in assessment then who is responsible for finding deemed income .AO or ASSESSE.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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