Housing Loan Interest and Pre-EMI Interest

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Molin (Querist)
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26 February 2010 Dear Sir,
Maximum Interest Deduction on Housing Loan is Rs. 150000.
What abt Pre-EMI Interest whether we can Claim seperately over and above 150000 or it is with in limit of 150000.
If it is over and above 150000 then how to incorporate in to Form 16 (Salary certificate) as it will be over above 150000
Example if Interest is 167000/-
and Pre-EMI is 99000/-( Divisible in 5 year)
Then Max Deduction will be 150000+19800 or 150000/- ?
Please suggest at earliest

CA Gangadhar Mishra

CA Gangadhar Mishra (Expert)
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26 February 2010 maximum you can claim Rs.150000/- only, including pre-emi int. for self occupied house, but for let out house there is no limit.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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26 February 2010 Agreed

G.Ramesh

G.Ramesh (Expert)
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27 February 2010 Agree with the above expert

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