MAX ELIGIBLE DEDUCTIBLE AMOUNT UNDER \\\" INCOME FROM HOUSE PROPERTY\\\"

Forums Deductions MAX ELIGIBLE DEDUCTIBLE AMOUNT UNDER \\\" INCOME FROM HOUSE PROPERTY\\\"

MAX ELIGIBLE DEDUCTIBLE AMOUNT UNDER \\\" INCOME FROM HOUSE PROPERTY\\\"

Can an individual salaried assessee claim deduction under ” house property income”, both for his self occupied house and one let out property for AY 2018-19 FY (2017-18)? What is maximum eligible amount in the above scenario?

Profile photo of CHANDRAMOULI Asked By: Anonymous 2 replies 2 helpful answers Last Updated: 3 weeks, 6 days ago
  • Profile photo of CHANDRAMOULIAnonymous

    Can an individual salaried assessee claim deduction under ” house property income”, both for his self occupied house and one let out property for AY 2018-19 FY (2017-18)? What is maximum eligible amount in the above scenario?

  • Profile photo of Shreya OturkarShreya Oturkar
    Moderator

    The deduction is allowed to an individual, as mentioned below:

    1. For Self Occupied property – upto Rs.2,00,000/- on housing loan interest
    2. For let our property – no limit for claiming deduction on housing loan interes

    But, only upto Rs.2,00,000/- out of the balance housing loan interest remaining after adjustment of all the rental incomes, will be allowed for set-off against other heads of income. The remaining interest if any, will be carried forwarded to next year.

  • Profile photo of Nitesh BindNitesh Bind
    Participant

    Yes, salaries individual can claim deduction of interest under Income from House Property.

    In case of Let out House: Without any limit.

    In case of Self occupied house: LImit of Interest deductible would be Rs. 2,00,000/30,000 subject to conditions.

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