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