India House Property for NRI & Interest on Home Loan

(1) If me & my wife are US Citizen (PIO) or Non-resident in India and if we have 2 house properties in USA and 3 house properties in India ? Am i liable to file tax return in India only for 3 house properties of India (one as self occupied and others as let out or deemed to be let out) and my US House Properties are not considered for it , ……………… am I correct ? …..

(2) Can the deduction of interest of home loan be taken separately in each property (without the limit of number of properties) if financed through home loan ? Suppose , if we have bought these three house properties on home loan from different banks , can we take Interest on Home Loan deduction from each property separately when 1st House Property is self-occupied , 2nd property is let out and 3rd property is deemed to be let out ?

Anonymous Asked on April 29, 2017 in Taxations.
Add Comment
1 Answer(s)

In case of NON Resident , Income which accrues or arises in India is taxable. In case of all properties you can take interest separate within the limit specified sec 24  which has cap know at Rs 2 Lac.

TaxIQ Answered on May 2, 2017.
Add Comment