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Deduction of interest paid for home loan

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24 February 2016 what is the maximum deduction limit of interest paid on home loan
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CA CMA CS Ram Pavan Kumar Melam

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CA CMA CS Ram Pavan Kumar Melam (Expert)
24 February 2016 Deduction of interest paid on home loan u/s 24 of IT Act is as below:
- Rs. 200,000 for self occupied.
- Actual amount for let out property.
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CA CMA CS Ram Pavan Kumar Melam

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CA CMA CS Ram Pavan Kumar Melam (Expert)
24 February 2016 Deduction towards interest paid on home loan u/s 24 of IT Act is as below:
- In case of self occupied property: Actual amount of interest or Rs. 200,000 which ever is less;
- In case of let out property: Actual amount of interest without any limit.
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