Kaustubh
Analyst
[ Scorecard : 42]
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Posted On 16 November 2009 at 18:07
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Can we claim interest on housing loan, where the house is vacant (not occupied and not given on rent) because the assessee has taken up employment in other city and the assessee is taking HRA deduction for the rent paid in the city of employment? How much deduction will be available?
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saranraj
CA FINAL
[ Scorecard : 379]
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Posted On 16 November 2009 at 23:42
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yes. interest can be deducted. if the loan is taken towards construction or purchase, you can deduct interest upto rs.150000 and if the same is taken for some other purpose, deduction of rs.30000 alone is allowed
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praveen
CA Final, Bcom (A&F)
[ Scorecard : 1889]
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Posted On 17 November 2009 at 09:33
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Yes deduction can be claimed.
But it must be declared as Let Out Property.
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CA Devanshi Gandhi
ACA, Mcom, CIFRS & LLB
[ Scorecard : 7870]
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Posted On 25 November 2009 at 16:28
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yes u can
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Subash Srinivasan
chartered accountant
[ Scorecard : 337]
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Posted On 27 November 2009 at 11:12
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Yes the assesse can claim interest on housing loan if he has taken up employment other than the city where the house is situated interest upto rs.150000
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CA Devanshi Gandhi
ACA, Mcom, CIFRS & LLB
[ Scorecard : 7870]
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Posted On 27 November 2009 at 11:14
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yes u can
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G.E.Sudarsan
Audit Assistant
[ Scorecard : 86]
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Posted On 27 November 2009 at 12:01
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the assessee claim either HRA or interest on housing loan, so both HRA and interest on housing loan is not availed at the same time. suppose you have been let out the property you can avail deduction U/S.24 interest paid on housing loan
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