Deemed letout property

Discussion in 'Tax queries' started by bhargav, Mar 20, 2014.

  1. bhargav

    bhargav Member

    I have a house in Kolkata & Gurgaon each. The Kokata house has no loan and my parents stay in Kolkata House. I recently purchased house in gurgaon with heavy laon and I have moved in to the house. As per IT rules, I cannot have more than 1 property as self occupied. To claim maximum Tax benefits, can I declare my gurgaon house where I am staying as Deemed to be Letout ? I willing to show Notional Rent and claim 100% of interest rabate.

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