sec 24 deduction

[kunal kant]

Assessee is the owner of house and he let out the same house to a company in which he is a director and the company allots the same house as RFA to the assessee. whether the rent income income of the assessee allowed deduction under sec 24(b) ( interest paid in respect of let out property or self occupied property??)

AI Summary

Clarification sought on Section 24(b) deductions for rental income from director's house let out to their company. An individual inquired about the applicability of Section 24(b) deductions on rental income from a house let out to a company, where the individual is a director and the company allocates the house as residential accommodation to the individual. The query sought clarification on whether the rental income qualifies for interest deductions under Section 24(b) for let-out or self-occupied property. A respondent suggested researching the section online, noting a maximum deduction of 24,000 per year.