Ceiling of Tax excemption for the interest paid on House building loan when the income under 12 C (rent received) shown..
What is the ceiling for interest received from Bank for savings account and FD account?
There is no ceiling for any receipts .......
For rented house property, there is no ceiling for interest exemption claimed; but overall you cannot adjust more than 2 lakhs loss from IFHP with other income heads. Any additional loss is allowed to carry forward upto next 8 years.
There is ceiling of deduction u/s. 80TTA for Rs.10000, for interest income received from savings accounts.....
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