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deduction u/s24(b)

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(Querist)
20 February 2010 if an assessee own more than two house properties how much deduction can he claim u/s24(b)? -
a)Rs.150000/- irrespective of no. of house properties or
b) Rs. 150000/- for each property
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CMA. Dinesh S Adhikari, ACMA

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CMA. Dinesh S Adhikari, ACMA (Expert)
22 February 2010 You have to follow section 23(2) here,

According to that section if assessee owns more than two houses and if none of them let-out then computation will be:

1) Anyone seclected house as used for Self occupied , therefore amount will be Rs.30,000/Rs.1,50,000 or actual interest paid, whichever is less will be avilable for deduction purpose.

2) Rest of houses will be deemed to be let-out and for that houses actual interest paid will be avilable for deduction of u/s 24(b).

Regards!!!
Dinesh S. Adhikari
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