second home loan and sec 24 b

Hi

I tool the possession of my second home on 16th March 2010. This home is on loan.

Now, I am taking the benefit for interest paid to bank for all previous years (20% for next five years). Since I got the possession on 16th March 2010, I have following query.

  • Do I have to show the notional rental income for the period from 16th March to 31st March 2010 or I will have to show notional rental income for entire year i.e. from 1 April 2009 to 31 March 2010.

Please suggest.

Thanks

asked Jul 26 '11 at 13:33 by Amit91 196456


You will have to show notional rent for period after possession only.

answered Jul 26 '11 at 21:19 by Pankaj Batra 5.2k320

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Asked: Jul 26 '11 at 13:33

Seen: 1,616 times

Last updated: Jul 26 '11 at 21:19