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?
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ceiling of tax exemption & interest received.
Replies (1)
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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