Interest on housing loan

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amy (Querist)
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18 November 2011 hii .. my query is in respect of interest on housing loan .. if interest has been debited by d bank on a housing loan but the assessee has paid only a part of the interest , how much deduction can he claim under " income from house property " ?

Also if an assessee has let out property , from which he has received rent only for 3 months but interest on housing loan has been paid for the entire year , can he claim the full amount of interest as deduction under " income from house property " ?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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18 November 2011 1. Full amount of interest payable ( irrespective of amount paid) can be claimed as deduction under section 24(b) of the IT Act,1961.

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