income from house property

This query is : Resolved

Share Report Follow Query Ask a Query

chandan

chandan (Querist)
Follow

04 December 2009 tax exemption relating to amount Rs. 30000 and Rs. 150000 as interest on borrowed loan.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
Follow

04 December 2009 Max. upto 1,50,000/-

HUZAIFA HUSSAIN

HUZAIFA HUSSAIN (Expert)
Follow

04 December 2009 If the loan is taken for construction of house property prior to 1-4-1999 and the house is self occupied than deduction u/s24 towards interest is restricted to Rs.30000/- and if the loan is taken after 1-4-1999 than the maximum ceiling of deduction u/s 24 for interest payment is Rs.150000/- if the house is self occupied.

If the loan is borrowed for reconst-ruction, repairs or renewals of house property than maximum deduction on account of interest is Rs.30000/- and not Rs.150000/-.

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
Follow

04 December 2009 yes, maximum Rs.150000

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA.Gopal Rathi

S J MITRA

CA Sunny Sharma

Moby Mogli

Vimlesh kumar

Subscribe Now

income from house property

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Article Assistant

GST CONSULTANT

CA Final

Accountant

Manager- Finance and Compliance

GST CONSULTANCY