House property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 February 2014
An individual has taken a house loan in which he is living & repaying the same ,he again took a house loan (f.y 13-14) which is under construction .

So,the Individual will the get the full deduction of interest for the 2nd house loan or within a limit of 150000 (1st + 2nd house loan)

Sandeep Dharar

Sandeep Dharar (Expert)
Follow

24 February 2014 The Interest on Housing Loan will be allowable within the limit of Rs. 150000, by compiling all the loans from all the HP's

Querist : Anonymous

Querist : Anonymous (Querist)

24 February 2014 But this article say something different

http://articles.economictimes.indiatimes.com/2012-04-23/personal-finance/31386956_1_deductions-home-loans-second-house

Please guide.

Sandeep Dharar

Sandeep Dharar (Expert)
Follow

24 February 2014 There r many articles which u will find in Newspaper, but if u started believing them, then it is difficult to cope up with Income Tax Department.....

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok