Swa (Lead) (50 Points)
18 November 2017Hi
New tax rule for FY 2017-2018 put a cap of 2 Laks for "loss from house properties". This limit was newly inserted for rented properties. Same limit was there for self-occupied properties in previous years.
So if I have two properties, one self-occupied and another one rented, and for each I pay more than 2Lakhs as interest, can I claim upto 4Lakhs ?
I checked many posts here. But could not locate an answer. Please help
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(180189 Points)
Replied 18 November 2017
" if I have two properties, one self-occupied and another one rented, and for each I pay more than 2 Lakhs as interest, can I claim upto 4Lakhs?"
No. The total deduction under the head income from HP is capped at 2 lakhs of PY, and the remaining unadjusted loss is carried forward for to next 8 years.
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