25 April 2010
incase of self occupied house property sec 23(2), max amt on interest can be deducted is Rs.1,50,000 if loan borrowed after 1-4-99 for construction. and Rs 30,000 for repairs or if loan taken before 1-4-99 for any purpose.
my Query is What is the max amt of interest can be deducted if person takes two loan after 1-4-99 for construction and other loan for repairs. if person takes loan in year f.y 2008-09 for contruction purpose and then in f.y 2009-10 for repairs. he pays interest on both loan in f.y 2009-10.which in more than 1,50,000 and 30,000
CAN HE TAKE 1,50,000 + 30,0000= 1,80,000 AS INTEREST???
CAclubindia
