Deduction under income tax provision???

Self Occupied Property

Deemed Let Out Property 

sec 24b is applicable to interest of loans taken for all types of house property,

yes you can claim interest u/s 24b in income from house property and you can take deduction u/s 80c of principle payment upto Rs 100000 (including 80c, 80ccd etc)

AGREE WITH ABOVE

In both cases, self occupied or let out property, Principal repayment can be claimed as deduction u/s 80C subject to a maximum of Rs 100000

However for interest following provision has to be observed

Self occupied- Maximum deduction of Rs 150000 ( If the loan is taken for construction or acquisition) and Rs 30000 ( If the loan is taken for Repairs or renewl)

Let out Property- The entire interest amount can be claimed as deduction.

Originally posted by : Siddharth Bumb
	yes you can claim interest u/s 24b in income from house property and you can take deduction u/s 80c of principle payment upto100000 (including 80c, 80ccd etc)

agree...