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Deductions for HP

This query is : Resolved 
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(Querist)
24 July 2008 In case of a construction of a house property, the maximum limit upto which interest deduction can be claimed is Rs.1,50,000/-. Is this inclusive of PRE EMI Interest
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
24 July 2008 Yes, the limit of Rs 150000 as given in section 24(b) is the overall limit and includes Pre EMI Interest as allowable under the relavant clause.
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