House property
This query is : Resolved
Querist : Anonymous
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.
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
OM SAI SRI SAI JAI JAI SAI
09 October 2013
Yes he can get max Rs. 1.50 lac deduction u/s 24(b).
Thanks//VaibhavJ
Thanks//VaibhavJ
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).
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
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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