06 June 2016
Dear Experts,
i have taken home loan
pls tell me how much maximum deduction can be avail of principal amount...and how much maximum deduction can be avail of interest paid,
also provide the section for both the deduction,
Regard
Rajkumar
06 June 2016
Dear Sir, You can deduction of Rs. 1,50,000 for repayment of PRINCIPAL component under section 80C of the income tax Act, 1961. In respect of INTEREST component you can avail benefit of Rs. 2,00,000 (in case of self occupied property) under section 24(b) of the income tax Act. in case of let out property there is no upper limit of interest. in addition to that if you satisfied all the conditions of Section 80EE then you can take additional benefit of interest Rs. 50,000.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
06 June 2016
Hi,
in case of let out property
is there any limit to avail
home loan interest deduction
CAclubindia
