I have purchase an apartment with housing loan. I wish to give the same on rent. In such case can I claim the interest and principe rebate available on the housing loan? Can I show the rent received as an income and claim any deduction in the rent income? I am a salaried person in Pvt LTD. Company. Please advice.
I saw you mail and it is realy very usefull and important. I request you to please give me the formula for calculation of reducing balance. Because it will help in future for taking loan from bank.