https://www.taxtmi.com/news?id=1170 The proposed DTC treats gross rent for let-out house property as the rent received or receivable, abolishing the presumptive notional-rent computation tied to rateable value or construction cost. Gross rent for non-let properties is nil and ordinarily attracts no deductions for local taxes or interest. An exception allows individuals and HUFs to claim an interest deduction for capital borrowed for acquisition or construction of one self-occupied house within a prescribed ceiling, with corresponding adjustment of overall savings-related limits. en-us Tue, 15 Jun 2010 22:44:47 +0530 Tue, 15 Jun 2010 22:44:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=1170 The proposed DTC treats gross rent for let-out house property as the rent received or receivable, abolishing the presumptive notional-rent computation tied to rateable value or construction cost. Gross rent for non-let properties is nil and ordinarily attracts no deductions for local taxes or interest. An exception allows individuals and HUFs to claim an interest deduction for capital borrowed for acquisition or construction of one self-occupied house within a prescribed ceiling, with corresponding adjustment of overall savings-related limits. News - Tue, 15 Jun 2010 22:44:47 +0530 https://www.taxtmi.com/news?id=1170