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Interest on Borrowings for house property

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(Querist)
02 February 2011 Respected Experts,
If a person has got 2 house property & for both the property he has taken 2 spearate loans relating to the each house - now regarding interest how much amount will be allowed as deduction - is it for 2 house properties Rs 150000 or for one house property Rs 150000 & for other property which is already let out is eligible for Interest deduction without any celling.
Pls guid
Thanks
Debashis Mandal
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
03 February 2011 Maximum amount Rs. 1.5 lakhs , whether one house or two house , no matter.
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Nikhil Kothari

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Nikhil Kothari (Expert)
04 February 2011 Yes the maximum amount available as deduction is 1.5 lacs
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