Interest on Housing Loan

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This discussion clarifies whether you can claim interest on a housing loan for both the construction and repair of the same property within the same financial year. Generally, the maximum claimable interest on a housing loan is £200,000. For let-out properties, you can claim a standard 30% for repairs and maintenance alongside the interest on your housing loan, which must be declared as property income.

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(Querist)
27 January 2020 Sir
Can I Claim Interest on construction of HP and Repair at time? i.e 230000(200000+30000)
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
27 January 2020 No clarity , maximum you can claim 200000/- interest paid on repayment of HL
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RAKESH

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RAKESH (Querist)
01 February 2020 During the financial year can an asessee claim both interest on construction and repair (same houseproperty)
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
01 February 2020 Only let out property you can claim standard 30% repairs and maintenance and interest on hl you have declare HP income
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