I own two different properties which are let out for the whole year and I am receiving rent. To construct these properties I raised two different loans from banks and have paid Rs 138000/- and Rs 217000/- as interest. My question is: whether I will get the whole amount of interest paid by me as deduction or only Rs 150000/- ceiling shall be applicable. And also whether I will be eligible to claim deduction u/s 80C for the payment of the principal part of the loan
20 June 2009
There is no limit to claim the interest repayment in case of let out house, u can claim the actual repayment. Limit of 1.5 lacs is for self occupied house.
And, you are eligible to claim the principal repayment u/s 80 c.
20 June 2009
Hi, Only one residential house can be considered for availing deduction of interest u/s. 24. As you are owning 2 residential properties u can opt for any house as a self occupied property. U can claim the deduction u/s. 80C.
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