Deduction for interest & principal taken on house loan
This query is : Resolved
26 July 2012
Mr. X has 3 houses & has taken 3 separate housing loans for each house in his own name.So.How can he claim deduction of principal repayment u/s80C & Of interest under the head HP.
CA.Sourabh Sethia
(Expert)
28 July 2012
Two houses will be Treated as Deemed Let out and accordingly Income From House property will be calculated on that house after giving deduction of Interest on the Housing Loan
and one House will be treated as self occupied and the interest will be allowed as deduction but up to maximum of Rs.30000/- or Rs.150000/- whichever is applicable
Deduction of all principal repayments will be allowed up to maximum of Rs.100000/-
and one House will be treated as self occupied and the interest will be allowed as deduction but up to maximum of Rs.30000/- or Rs.150000/- whichever is applicable
Deduction of all principal repayments will be allowed up to maximum of Rs.100000/-
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