Tax Query

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Querist : Anonymous

Querist : Anonymous (Querist)

02 March 2011 if an assessee is paying interest on housing loan can he claim deduction u/s 80 C or u/s 24? which is more advisable?

Gayathri Devi

Gayathri Devi (Expert)
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02 March 2011 if you claim in Section 80 C it is limited only to Rs.100000/- including of all other deductions also. whereas consider in section 24 for self occupied property is it limited to Rs.150000/- and for let out the full interest amount.

s v rajesh

s v rajesh (Expert)
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02 March 2011 If an assesse is paying Interest on Housing loan he can avail the benefit of U/s.24 only, no question of Sec.80C because for Interest Sec.24 and for Principal Sec.80C

Max. Benefit for 80C is 1Lac & Sec.24 is 1.5L for self occupied and the actual interest paid for let out property(no limit of 1.5lac)

BALASUBRAMANYA B N

BALASUBRAMANYA B N (Expert)
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02 March 2011 Agreed with experts...

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