Deduction for interest on borrowed capital u/s 24 (b)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 March 2012
I am DDO in Govt PSU. An employee is claiming deduction u/s 24(b) as:
1.) 3,00,000/- on his one house on rent out 2.) 1,50,000 for second house (self occupied)
He argue there is no limit for deduction u/s 24 (b) for rent out house.
Please advise what should I do.
1.) 3,00,000/- on his one house on rent out 2.) 1,50,000 for second house (self occupied)
He argue there is no limit for deduction u/s 24 (b) for rent out house.
Please advise what should I do.
13 March 2012
yes. for let out house property, interest claim u/s.24b is actual. so there is no maximum limit. actual interest as per certificate can be allowed
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