Interest on housing loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 March 2016
Interest on housing loan paid is as follows(three loans have been taken):
LicHousing Finance 450000
Icici home loan 530000
Sbi Mortage Loan 390000
Two houses let out and one is self occupied. What is the maximum amount of interest that can be claimed under sec. 24
LicHousing Finance 450000
Icici home loan 530000
Sbi Mortage Loan 390000
Two houses let out and one is self occupied. What is the maximum amount of interest that can be claimed under sec. 24
23 March 2016
Deduction towards interest on house loan in respect of a self occupied property is restricted to Rs. 2 lakhs. However, there is no such limitation in case of a let out property.
Note: Normally interest on a mortgage loan cannot be claimed u/s 24.
Note: Normally interest on a mortgage loan cannot be claimed u/s 24.
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