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House loan interest rebate

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 June 2014 DEAR SIR,
My query is-
If a salary person take home loan on 2nd home & he pay RS-180000/- interest on both home loan.
He also declare Rental income in Income also.
Can he get interest rebate above 1.5 LAC.

Example- INTEREST PAID-180000/-
Rent received annually -Rs-18000/-

Pls reply
Manoj Jain
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Deepti Asawa

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Deepti Asawa (Expert)
07 June 2014 IF THE HOUSE IS RENTED OUT YOU CAN DEDUCT THE FULL INTEREST PAID ON HOUSING LOAN.
LIMIT OF RS. 1,50,000 ONLY ON SELF OCCUPIED HOUSE.
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Rupesh Jain

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Rupesh Jain (Expert)
07 June 2014 if house is let out then you can claim deduction u/s 24(b) without any limit of intt.
Rs. 150000/- intt limit for self occupied house only.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
07 June 2014 limit of 1,50,000 applies only to self occupied house and int is fully deducitble for non self occupied houses owned and let out.
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