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)
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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)
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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.....

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