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Housing loan interest

This query is : Resolved 
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(Querist)
18 October 2012
If a person takes a housing loan of Rs 30 lakhs for 18 year term,whether the deduction of interest of Rs 150000(maxm) under Section 24B can be availed each year subject to the condition that interest given to bank is more than Rs 150000
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CA Manish

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CA Manish (Expert)
18 October 2012 Yes, deduction u/s 24(b) is to be claimed every year.
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Vivek Mehta (CA, DISA,CS, MBA)

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Vivek Mehta (CA, DISA,CS, MBA) (Expert)
18 October 2012 Yes you can take deduction of Interest after the completion of the House.
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