Housing Loan Interest
This query is : Resolved
15 January 2011
I am planning to buy a residential plot, with an idea to claim interest payable exemption from my salary income and capital repaid exemption
I need to know :-
1. Is the exemptions available if I purchase a residential plot
2. If yes, then to what extent
3. If no, then if I plan to purchase a flat, and give it on rent, then, since the city of work and city of plot/falt shall be different
I need to know :-
1. Is the exemptions available if I purchase a residential plot
2. If yes, then to what extent
3. If no, then if I plan to purchase a flat, and give it on rent, then, since the city of work and city of plot/falt shall be different
CMA Ramesh Krishnan
(Expert)
15 January 2011
While purchase residential plot through Housing loan you can claim Interest u/s.24 Rs.1.50 lakh maximum for Self occuiped & actual interest for Let out property.
While purchase residential plot through Housing loan you can claim Interest u/s.24 Rs.1.50 lakh maximum for Self occuiped & actual interest for Let out property.
CMA Ramesh Krishnan
(Expert)
15 January 2011
Yes, Capital Repayment can be claimed u/s.80C subject to maximum of Rs.1 lakh in any cases whether Self occupied or Letout property
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15 January 2011
Yes.. you can claim the benefit under section 80C upto a max of Rs. 100000/-
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15 January 2011
Dear Vikas,
Please also see my last update on your query :
https://www.caclubindia.com/experts/house-rent-566375.asp
Please also see my last update on your query :
https://www.caclubindia.com/experts/house-rent-566375.asp
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