I would like to know about Deduction U/s 24b for Interest payment Housing Loan , if house is rented out. What is the maximum limit for deduction.
S K Sharda (Commercial Manager) (38 Points)
21 July 2011I would like to know about Deduction U/s 24b for Interest payment Housing Loan , if house is rented out. What is the maximum limit for deduction.
Sumit Grover
(Chartered Accountant )
(3652 Points)
Replied 21 July 2011
there is no limit, in case house is let out(rented out).
In case, the property is self occupied, then the limit is Rs. 30000 for repair and renewal etc
and Rs. 150000 in case of purchase of house property (subject to some conditions)
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