House loan
This query is : Resolved
brij bhushan gupta
(Querist)
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
Nikhil Kaushik
(Expert)
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.................
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
