Deduction u/s 24

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abhijeet

abhijeet (Querist)
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04 March 2015 Sir, can we claim interest On Housing loan of LOP as well As SOP?? as a deduction u/s 24??

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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04 March 2015 Yes you can claim interest on housing loan of let out property u/s 24 to the extent of actual interest payment.

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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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04 March 2015 for sop the limit from ay 15-16 onwards has been increased to 2,00,000

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abhijeet

abhijeet (Querist)
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05 March 2015

sir can i claim Interest paid on both the properties(let out & self occupied ) for the same individual and for the same assessment year?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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05 March 2015 the ans is yes for both but there is limit for sop as stated for lop no limit

abhijeet

abhijeet (Querist)
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05 March 2015 But we have received demand as ITO disallowed Interest paid on SOP... What should I suppose to do

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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05 March 2015 how he can disallow when sec 24b is allowing u?

what has actually ao written as reason for disalloance in assessment order passed?

abhijeet

abhijeet (Querist)
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05 March 2015 We have received it under 143 1... after goin through the assessment by CPC I come to knw dat... Interest paid on SOP has been disallowed..

Int paid on Sop 51000
Int Paid on LOp 212000

out of which 51000 has been disallowed