Home loan
Querist : Anonymous
What are the maximum allowed limit in fy 2015-16, for the payment of following -
1. Prinicipal amount of home loan -----
2. interest of home loan ----
Please clarify.
Interest- Rs. 2,00,000/- (under loss from house property income if it is self occupied. If let out, actual amount can be taken as a deduction).
Querist : Anonymous
or
this is whole amount or interest ?
If it is let out, the deduction will be the whole amount paid as interest by the assessee.
Pls refer sec 24 (1) (b).
Querist : Anonymous
But if the loan is taken for renovation, it is restricted to Rs. 30,000 only.
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