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Deduction benefit for let out property...
In Income from House Property, there is deduction of interest paid on loan taken for acquiring home or repairs. If my house is let-out, there is no limit on the deduction that I can claim on interest paid for acquiring/repairing home. Now, I want to repair my home. My question is, can this loan for ...
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Arjun

Deduction benefit for let out property...
Hello siri have taken second home loan for flat in mumbai , its not rented my son is living there, I am living in ambala in my first home loan house .I am getting income tax rebate on first home loan. can I get income tax rebate on second home loan in which my son is living & how much tax exemptio...
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Amlan Dutta
You have to show this property as deemed let out property and show notional rent on it post which you get same deduction benefits as let out property would entitle you to, namely

(1) 30% of net annual value and
(2) loan interest under 24(b) subject to 2 lakhs

(The benefits are for individual proper...
  • April 20, 2018
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