Dear,
My son taken possession of the second house only few days before end of March-19.
He taken home loan and EMI start from March-19 and not rent out.
My questions are:
1) Should I show 2nd house in ITR-2 or not
2) If yes then where and how much deemed rent I have to show
3) I am taking one month interest deduction from my salary income.
4) Will I require to show loan amount as liability in AL
Please advise what the best way enabling to file ITR.
Thanks
Ashok Agarwal
1. Yes
2. for 1 month
3. You can also claim 1/5th of pre-construction period interest paid, if any.
4. If Filling Schedule AL is mandatory.
CAclubindia
