Avik Banerjee (Account Assistant) (116 Points)

10 August 2016  
section 24 (B) income tax act There are few deduction i.e 1)interest payable on loan can be clamimed as deduction 2) Interest payable on a fresh loan to repay the original loan is also Admissiable as deduction 3)interest payable on borrowed capital for the period prior the othe previous year in which the property has been acquired or constructed ,can be claimed as deduction over a period of 5 years in equal annual installments,commentcing from teh year of acqusition or completion of construction 4)Interest related to year of Completion of construction can be fully claimed irrespective of completion date Now my question arises how much Deduction is there in section 24 (B) 200000 or 150000 pls show me calculation