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house property deductions

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(Querist)
21 April 2011 sir
if a person is owner of 2 house property and had taken loan for both can he claim deduction for interest paid on both loans subject to the limit of 150000??
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CS ,CMA Shambhu Kr. jha

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CS ,CMA Shambhu Kr. jha (Expert)
21 April 2011
Dear Neelam
Yeah ,,,,, he can get deduction for both house .
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Rahul Vora

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Rahul Vora (Expert)
23 April 2011 Definitely, that person can claim deduction for interest paid on both loans. But, one of the house will have to be considered as deemed to be let out and rent income is to be calculated and taken as "Income from House Property". There will be no limit of Rs.150000/- on interest deduction on this house property house.
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