Deduction U/s 24 for Intt on House Loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 March 2011
There is one property in the name of me and my brother and we are paying equal Installment, Can some clear me that 150000 limit is for one property or per person.
Regards
CA Prakash Birla
Regards
CA Prakash Birla
s v rajesh
(Expert)
27 March 2011
Hi Prakash,
As per U/s.24 for housing loan Interest repayment - Rs.150000 benefit will be per assesse.
Eg: if you and your brother are paying interest of more than 1.5lac you ca claim equal or % basis based upon taxable income.
Rs.300000 interest paid per assesse benefit is Rs.1.5Lac
As per U/s.24 for housing loan Interest repayment - Rs.150000 benefit will be per assesse.
Eg: if you and your brother are paying interest of more than 1.5lac you ca claim equal or % basis based upon taxable income.
Rs.300000 interest paid per assesse benefit is Rs.1.5Lac
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