Deduction of interest u/s 24(b)

yes ,,,,,allow u/s 24 (B).....

YES HE CAN AVAIL DEDUCTION OF TOTAL INTEREST PAID

IF HE HAD BORROWED LOAN BEFORE 01 04 1999 THEN DEDUCTION WILL BE 30000

IF HE HAD BORROWED LOAN  ON R AFTER  01 04 1999 THEN DEDUCTION WILL BE 150000

Agree with Manoj as its monetory limit of Rs.30,000/Rs.1,50,000 and no matter howmany no. of loans are there..

yes subject to limits

if the property is rented... den he can claim any amount of Loan interest

and if is self occupied not more then 150,000.

Yes, but subjects to Limits...

Yes, the assessee can claim deduction u/s 24(b) but subject to limits. If he has borrowed before 01/04/1999, the deduction will be Rs.30,000.If he has  borrowed after 01/04/1999. the deduction will be Rs.150000. This deduction will be available only after completion of construction of house property or after purchase of property. And also the assessee can claim the principal repayment of loan u/s 80 (c).

First veryfy if the loan pertains to that property.

Secondly if the funds have actuallly been used for that property.

If the above conditions are satisfied then only u can claim 24(b), and the limits have been already stated by my frenz above

Yes, subjects to Limits........................

yes u can very well claim. But the maximum interest allowable is RS.1,50,000 if the house is constructed or purchased withing three years from the date of commencement of construction. Otherwise only Rs.30,000 is allowed. You can even take any number of loans for constructing or purchasing a house. But the claiming of interest is limited to the above limit.

Can Very well claim but upto a maximum of Rs. 150000/-.........(if constructed / purchased within 3 years from the end of P.Y. and loan borrowed on or after 1.4.99 or else only Rs.30000/-)

yes ,subject  to the limits,he can claim ded u/s 24 b