Interest on loan for house property (house property head)
This query is : Resolved
Saloni Dhawan
(Querist)
10 May 2013
Good evening everyone,
I just wanted to know, if I have a self occupied house and i am indebted to a housing loan on it and Interest on loan during the year is Rs. 200,000/- then how much exemption will be available to me u/s 24 of income tax act?
I just wanted to know, if I have a self occupied house and i am indebted to a housing loan on it and Interest on loan during the year is Rs. 200,000/- then how much exemption will be available to me u/s 24 of income tax act?
CA VISHNU GAVKARE
(Expert)
11 May 2013
1,50,000 but if it is co-owned then each co-owner will get 1,50,000.
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