House loan interest rebate
This query is : Resolved
Querist : Anonymous
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
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
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.
LIMIT OF RS. 1,50,000 ONLY ON SELF OCCUPIED HOUSE.
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.
Rs. 150000/- intt limit for self occupied house only.
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.
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
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Capital Gail Exemption Certificate
- Accounting treatment of AMC alongwith the purchase of Laptop
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- 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
