Loss on housing property

Ramakrishnaraju (supervisor) (211 Points)

02 October 2012  

My brother has got two houses (both  loan from banks).  He is occupying one house and one is let out.  Can he enjoy the  loss on housing proerty for both the houses i.e. self-occupied(Loss around Rs.2.5 lakhs but IT EXEMPTION OF Rs.1.5 lakhs) and the let out property(3.5 lakhs) i.e. Rs.1.5 + 3.5 lakhs = Rs.5.00 lakhs.