I am having a housing loan which was disbursed from March 2010 to May 2014. I got completion certificate on May 2014. Now my office says that it will allow deduction of interest paid housing loan only upto Rs.30000/- and not Rs.1,50,000/- as per sec. 24 of I T Act.
Is it right. My take is the loan is disbursed for a period spanning 3 years and the time limit of 3 years specified by the GoI can be reckoned from the May 2014 and not March 2010.
Can somebody help. Am I right????????????