Deduction in respect of interest on housing loan.
This query is : Resolved
19 July 2013
Sir,
Suppose a person has paid total Interest on housing loan of rs. 200000.
He has two properties: one is self occupied and other is vacant.
Can the person claim entire interest amount for deduction in following manner:
Rs. 150000 for self occupied property and Rs. 50000 for the vacant property?
Also, can a person claim deduction of Interest for two housing loans taken by him or deduction is available against only one housing loan?
Suppose a person has paid total Interest on housing loan of rs. 200000.
He has two properties: one is self occupied and other is vacant.
Can the person claim entire interest amount for deduction in following manner:
Rs. 150000 for self occupied property and Rs. 50000 for the vacant property?
Also, can a person claim deduction of Interest for two housing loans taken by him or deduction is available against only one housing loan?
19 July 2013
no.
as the limit is rs 1,50,000 only.
as the limit is rs 1,50,000 only.
Message likes :
1 times
19 July 2013
Sir,
Can a person claim deduction against Two loans taken by him if he has two properties: one self occupied and other vacant property?
Can a person claim deduction against Two loans taken by him if he has two properties: one self occupied and other vacant property?
19 July 2013
Sir,
Can a person claim deduction against Two loans taken by him if he has two properties: one self occupied and other vacant property?
Can a person claim deduction against Two loans taken by him if he has two properties: one self occupied and other vacant property?
19 July 2013
Sir,
Can a person claim deduction for Two loans taken by him when he has two properties out of which one is self occupied and other a vacant property?
Can a person claim deduction for Two loans taken by him when he has two properties out of which one is self occupied and other a vacant property?
Rajat Poddar
(Expert)
19 July 2013
according to me.. limit in case of SOP is 150000 n for other property there is no limit.. there fore it can be done...
Message likes :
1 times
Rajat Poddar
(Expert)
19 July 2013
it can be claimed by 2 housing loans also.. no issues...
19 July 2013
Thank you Tushar Sampat sir and Rajat Poddar sir for solving my query.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Query on effect of registration of property
- GST on reimbursement of expenses
- Whether output tax is taken credit by purchaser
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Additional trade name
- Equity Share Sale and Purchase
- Visiting card purchase
- Number of years as per AS amortisation of Goodwill
- Wrong CMPo8 file
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
