House loan
This query is : Resolved
23 October 2014
i had taken house loan and paid fully in 20 years now i want to purchase another house and loan . can i eligible for house loan rebate
23 October 2014
yes you are eligible. there is no limit on number of housing loans for the purpose of rebate in income-tax.
23 October 2014
You can claim deduction for loan interest as well as for loan repayments subject to conditions provided in law.
The property may be deemed to be let out if your using for self occupation hence there will be some deemed income out of which interest deduction will be available
If your planning to sell old house. Depending on your facts you can also claim exemption u.s 54
The property may be deemed to be let out if your using for self occupation hence there will be some deemed income out of which interest deduction will be available
If your planning to sell old house. Depending on your facts you can also claim exemption u.s 54
16 December 2014
agree with nikhil's view.................
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