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Let out house property interest infotype 584

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HI,

As per income tax u/s 24 for self occupied interest max exemption is 150000 and for let out u/s 24 is unlimited.

 

1. For self occupied we can maintain in IT584 subtype 0001 level 1 ( self occupied), Int. limit max 150000

2. For let out we can maintain the interest in level 2 or 3 in Ded.-Interest u/s 24 but we need to maintain the final lettable value also,

 

Example: Final Lettable Value 400000

              Deduc-Repairs u/s 24  120000

              Ded.-Interest u/s 24 300000

 

Loss on house property is 400000-120000-300000= -20000

 

But there is no Final lettable value and repairs.I need to maintain only interest u/s 24 let out 300000, How can I do this? With out fianl let out value system is not saving interest.

 

Please guide me

 

Thanks in advance for all

 

Regards

Sankarappa


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