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House property

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 October 2013 If a person has two house one is self occupied another is deemed to be let out then a person has taken a housing loan on self occupied house can he take benefit of interest on housing loan.
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
09 October 2013 Yes, he can take benefit of housing loan interest u/s 24(b) as well as principle repayment u/s 80C.

OM SAI SRI SAI JAI JAI SAI
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@VaibhavJ

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@VaibhavJ (Expert)
09 October 2013 Yes he can get max Rs. 1.50 lac deduction u/s 24(b).

Thanks//VaibhavJ
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
10 October 2013 the interest paid for the house deemed to be let out, there is no limit of interest expense claim under 24(b).

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@VaibhavJ

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@VaibhavJ (Expert)
10 October 2013 Yes Agree with Nikhil.

Since loan is taken on Owned property you will get Max Rs.1.5 lac deductions, if you are paying interest more than that then you can change your options & avail max benefit.

Thanks//VaibhavJ
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