Interest deduction u/s 24 on let out house property

Nikhil Jain (Audit Assistent) (24 Points)

26 July 2011  

Hi,

I have got a query.....

U/s 24(b) interest paid on borrowed capital for House property is deductible from income subject to specific conditions. The max amount id 150000/- or 30000/- in case of self occupied property.

is there any other provision for let out property or the same limits are applicable to that also?

Please let me know about the same........