Interest allowable on self occupied property

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Vasanta (Querist)
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20 June 2013 Deduction of Int of Rs.150000 in case of Self Occupied property is only for one year or till the completion of loan repayment.?

CMA Ramesh Krishnan (Expert)
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20 June 2013 It is yearly deduction u/s.24b. you can deduct yearly Rs.1.50 lakh or actual interest which ever is less for self occupied property

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