House loan deduction
This query is : Resolved
17 February 2014
What is maximum amount of deduction allowed on house loan...under income tax act...please respond and also under which chapter and section
17 February 2014
for self occupied property Rs 1.5 lakhs plus 1 lakh under 80EE(subject to conditions provided therein. Also note that 80EE is only for current and next financial year)
For let out or deemed let out property, there in no limit. Actual interest paid can be claimed under 24B.
For let out or deemed let out property, there in no limit. Actual interest paid can be claimed under 24B.
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