26 April 2014
If the assessee has more than one house property, one may be self occupied and there is interest paid on loans taken for respective properties, what will be the deduction allowed. Whether it will be provided for all houses seperately or on any one.
26 April 2014
No u can take 24b for all the properties, But the loan must b separately taken for all the properties. It is not the case like u have taken loan of Say Rs. 10L for Property A and is utilising it on all other properties.
27 April 2014
I believe you have already stated that loans are for respective properties. So,
1. for the self occupied property, the interest deduction shall be limited to Rs 1.5 lakhs.
2. for other properties the actual interest accrued shall be claimed as deduction without any limit. Please note that these properties shall be considered as deemed let out (wherever left vacant) or where the property is actually let out, as let out property.