housing loan 1.png

housing laon 2.png


  1. Courses
  2. Free Income Tax Certification Course


Person buys house 50 Lacs Makes down payment 10 Lacs Balance housing loan 40 Lacs Pays EMI 30000 pm Annual EMI 30000 × 12 = 360000 Principal Interest • It is covered in 80C • Max 150000 • It is covered in Loss from House Property • Max 2 Lacs loss Why it is loss from House Property Income from House Property is Rental Income from House If We are Ourselves living Rental Income = 0 Income From House Property = 0 From This We Can reduce Any Interest on Housing Loan (Suppose 30000) So we get Loss From House Property This loss Max allowed upto 2 lacs = 0 − 30000 = −30000

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.