Calculation of Income from House property

Vinayuwb 1
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Can you please share the calculation of Income from House Property in following case?

I have purchased a flat in MAY 2005 under hsg loan from a bank. EMI is 4175/- per month. The interest during FY 2011-12 is 37986/-

Further i have purchased another flat in November 2011 in same city. the EMI is 8300/- p.m. Total interest for FY 2011-12 is 50784/-

kindly help me calculating the income / loss from house property

home-loan-interest tax-calculation tax-exemption section-24 income-tax
1 Answers

You can get total interest exemption up to Rs 1.5 lakh under section 24.

So you should be able to claim loss under house property for total amount of Rs 37986+50784.

Pankaj Batra5212
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