I work in Bangalore and live in rented house Bangalore with my family and pay a rent of Rs.20000. I have another newly constructed house in Kochi, Kerala for which I got the posession certificate in January 2009 for which I will be paying interest of Rs.4,80,000 this year and had paid of Pre EMI interest of around 570,000 which can be reclaimed in in five equal installments after the house cam to posession.
My house in Kochi has a tenant who is paying me a monthly rent of Rs.11000. Can some one let me know how to calculate the income from house property so that I can claim tax deduction on the entire interest with out the limit of 1,50,000?.
My company has asked me to furnish a letter from CA . It would be helpful If you could share the format as well