Deduction of Home Loan Interest
This query is : Resolved
Kiran Aaradhye
(Querist)
16 June 2011
Dear Sir,
Presently I have 2 residencial property. One I am using for my own use. The first one (Own use) loan I have cleared & have taken the interest benefit. The second property I purchased in 2006, the loan is still going on & the principal amount balance is Rs. 8.5 Lacs. So far I have not claim Interest amount benefit of 2nd property.
Now I want to give second home on rent. & I am planning to take one more property & giving on rent.
Can I claim both (2nd & 3rd Property) interest? Is there any maximum interest limit for claim?
Presently I have 2 residencial property. One I am using for my own use. The first one (Own use) loan I have cleared & have taken the interest benefit. The second property I purchased in 2006, the loan is still going on & the principal amount balance is Rs. 8.5 Lacs. So far I have not claim Interest amount benefit of 2nd property.
Now I want to give second home on rent. & I am planning to take one more property & giving on rent.
Can I claim both (2nd & 3rd Property) interest? Is there any maximum interest limit for claim?
CA MANOJ GUPTA
(Expert)
16 June 2011
OUT OF THREE ONE PROPERTY WILL BE TREATED AS SELRF OCCUPIED AS PER UR CHOICE
SO FAR AS LET OUT PROPERTY IS CONCERNED THERE IS NO LIMIT ON INTEREST DEDUCTIBLE
ANY AMOUNT OF INTEREST PAID/PAYABLE IS DEDUCTIBLE
CA MANOJ GUPTA
JODHPUR
09828510543
SO FAR AS LET OUT PROPERTY IS CONCERNED THERE IS NO LIMIT ON INTEREST DEDUCTIBLE
ANY AMOUNT OF INTEREST PAID/PAYABLE IS DEDUCTIBLE
CA MANOJ GUPTA
JODHPUR
09828510543
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