Smitha
1
Hi Sir,
I would like to know if the interest component of two housing loans can be claimed by a single person, given both the houses are let-out? If so, what is the maximum amount that can be claimed as interest?
In addition, can payment of rent also be included while computing the income from house property?
Yes, home loan interest for more than one houses can also be claimed. If house is not self-occupied and rental income tax is shown, then there is no limit on home loan interest which can be claimed as non-taxable. Whatever is actually paid as interest (even if its above 1.5 lakh), can be claimed as tax free.
Rental income needs to be shown as income from house property.
