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How to calculate the interest on housing loan for an LET
OUT PROPERTY?
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Answer / rohit
first v have to see muncipal value or fair rentel value of
the house which ever is hire but not hire then stendered
rent and then 30% texis less after it loan on counstruction
paid buy assessee is addable in half
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / m s nageswara rao
Annual lettable value or Actual rent received or receivable
Which ever is higher is the rent income XXXXXX
Less Municipal Taxes actual Paid xxx
-------
XXXX
Less 30 % of repairs irrestective
of irrespective of incurred or not xxx
Interest on Housing loan XX
---- XXXX
-----
Net income from H P XXX
----
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / pathakchang
In the case of LET out Property, 30% of maintenance charge
is deducted from the actual rental received and the
interest paid, the summation of both is then considered
(after 30% deduction) for the taxation.
| Is This Answer Correct ? | 1 Yes | 0 No |
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