banner_ad

Interest on borrowed capital of House Property

This query is : Resolved 
Profile Image

Profile Image

(Querist)
14 July 2008 Sir
I have the following query with me.

IF a person has two properties constructed with loan from Bank.

One property is self occupied and the other is letout for others

Can he claim the interest on borrowed capital on both the houses u/s 24.

And the other query is:
Is the deduction of loan repayment, Principal deduction is 20000 for each house or 20000 for all the houses taken together

Please resolve my query
Awaiting expert responses
Profile Image

CA RAMESH KUMAR AHUJA

Profile Image

CA RAMESH KUMAR AHUJA (Expert)
14 July 2008 He can claim deduction of Interest u/s 24 for both the houses. However, the deduction of intt for self occupied property is restricted to 1,50,000/-. Deduction u/s 80C for repayment of principal is available upto the maximum limit of section 80C, i.e, Rs 100000/-.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details