Housing loan interest exemption

This query is : Resolved

vinod j shah (Querist)
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23 October 2012 Dear sir,
I have two house in one city.
First home loan over, where i am staying right now.
Second home loan started, which i have given on rent.
Can i claim upto 1.5 lakh or unlimited(total) interest of running loan ?

Mihir Doshi

Mihir Doshi (Expert)
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23 October 2012 Dear Vinod ji,

In case of let out property, There is no cap for claiming interest on Housing Loan u/s 24b.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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23 October 2012 In respect of house property let out on hire, deduction in respect of interest on housing loan is available without any limit.

The deduction will NOT be restricted to Rs. 1,50,000.