Maximum Ceiling on Interest on Housing Loan
This query is : Resolved
24 July 2009
What is the maximum amount that an individual can claim against the Interest paid on Housing Loan? Does it include the Pre-emi (Pre-construction period) paid?
24 July 2009
the maximum limit will be 1.5L & it includes the pre emi interest portion also.
24 July 2009
Yes the maximum interest that can be claimed is Rs. 150,000/- including PRE EMI which is allowable in 5 instalments.
24 July 2009
The above replies are correct to the limited point, when the individual occupies the house and has only one house. However the individual is earning rental income from the property against which the loan is taken, there is not limit for claiming interest against that income.
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Regarding TDS Applicability For Director Remuneration
- Annual return in Gst
- Value of property in capital gain
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
