Deduction for interest & principal taken on house loan

This query is : Resolved

JAGRITI (Querist)
Follow

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

CA.Sourabh Sethia (Expert)
Follow

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/-

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

deepak

Sasidhar B

Aniruddha Mody

Vinod Patil

THOMAS JOHN

Subscribe Now

Deduction for interest & principal taken on house loan

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Accountant

Article Assistant

GST CONSULTANCY

CA Final