Interest on loan
This query is : Resolved
CA PAWAN SETHI
(Querist)
17 December 2008
What is the maximum limit available to claim the deduction under Sec 24(b) as relates to interest on housing loan in case of rented property
17 December 2008
1) If the property is self-occupied, the maximum amount eligible to be claimed as deduction is Rs. 1,50,000/- or actual interest amount, whichever is less.
2) If it is a let out property, the actual interest amount is eligible to be claimed as deduction u/s. 24 of the IT Act, 1961.
1) If the property is self-occupied, the maximum amount eligible to be claimed as deduction is Rs. 1,50,000/- or actual interest amount, whichever is less.
2) If it is a let out property, the actual interest amount is eligible to be claimed as deduction u/s. 24 of the IT Act, 1961.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Nursery business
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
