I had Bought a House at Rajkot, Gujarat through Bank Loan. the interest was fixed at 8% and in the current year the interest portion is 33,000/- & principal is 54,000. This house is not rented. I have located at Pune for my Job & I have bought a house for self occupancy & has been bought through Bank Loan at 10.25% Floating rate. the Interest portion is @ 50,000 for the two months. & in the next year it shall be to the tune of 2,50,000/-. For about 4 months I have stayed on Rental accomodation before buying a house in Pune at 11,500/- Per month. what shall be the Income from my house property. what shall be the tax deductions/ implications.?
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