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Housing Loan Exemption

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 April 2011 Dear Sir/Madam,

Can anyone please help me what are the implications of Housing Loan with respect to income tax. How Many times can i avail the exemption. for eg. i have one house which was acquired on loan basis. the loan was cleared. Now i am going to buy a new house with another loan. is the exemption was allowable. and interest on such loan is deductible from my total income.

Thanks & Regards,

Suman
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
23 April 2011 yes. you can claim for new house interest, but as letout property and need to show House property income
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