house property
This query is : Resolved
25 April 2010
incase of self occupied house property sec 23(2), max amt on interest can be deducted is Rs.1,50,000 if loan borrowed after 1-4-99 for construction. and Rs 30,000 for repairs or if loan taken before 1-4-99 for any purpose.
my Query is
What is the max amt of interest can be deducted if person takes two loan after 1-4-99 for construction and other loan for repairs.
if person takes loan in year f.y 2008-09 for contruction purpose and then in f.y 2009-10 for repairs. he pays interest on both loan in f.y 2009-10.which in more than 1,50,000 and 30,000
CAN HE TAKE 1,50,000 + 30,0000= 1,80,000 AS INTEREST???
my Query is
What is the max amt of interest can be deducted if person takes two loan after 1-4-99 for construction and other loan for repairs.
if person takes loan in year f.y 2008-09 for contruction purpose and then in f.y 2009-10 for repairs. he pays interest on both loan in f.y 2009-10.which in more than 1,50,000 and 30,000
CAN HE TAKE 1,50,000 + 30,0000= 1,80,000 AS INTEREST???
27 April 2010
Hi,
One can claim interest upto Rs.1,50,000 during the financial year and this is the maximum limit as specified in the section.
So you can not claim interest more than 1,50,000.
WITH REGARDS,
C.A.NISHIT DOSHI
One can claim interest upto Rs.1,50,000 during the financial year and this is the maximum limit as specified in the section.
So you can not claim interest more than 1,50,000.
WITH REGARDS,
C.A.NISHIT DOSHI
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