Interest on Housing Loan

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Querist : Anonymous

Querist : Anonymous (Querist)

01 September 2010 Respected Experts,
When person has a house, and could not occupied the same due to his employement in some other city. What would be the amount of deduction admissible u/s 24(b)-, The same property is also not given on the rent, due to employement of his wife in the same city. can the interest on the smae be claimed more than Rs. 1,50,000- Kindly assist me in the same.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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01 September 2010 As per section 23(2)(b) read along with proviso's to section 24 (b) the said property is self occupied and hence maximum deduction for interest under section 24(b) will be Rs.30,000/Rs,1,50,000/- as the case may be.

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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01 September 2010 yes. it is allowed as per sec.23(2)(b)

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