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(Querist)
01 December 2012 IN CURRENT YEAR I HAVE PAID 146000/- TOWARDS INTEREST ON HOUSING LOAN FOR CONSTRUCTION OF MY HOUSE,WHETHER I CAN CLAIM DEDUCTION OF FULL AMT OF INTEREST FROM SALARY OR RS.30000/- ?
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
01 December 2012 If the loan was taken AFTER 1.4.1999 and acquisition or construction was completed within 3 years from the end of the financial year in which the amount was borrowed, then deduction of Rs. 1,50,000 shall be allowed, otherwise deduction shall be restricted to Rs. 30,000
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