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HBL INTEREST
How much interest can be claimed under section 24
Replies (2)
Max 2 lakhs
Let out property - full interest even if it exceeds 2 lacs. After setting off with ur house Rent income, if there is still any interest remaining, u can max take 2 lacs out of remaining interest available
Self occupied property
If loan is taken after 01.04.1999 & loan is taken for purchase or construction of house property & if taken for construction, it is completed within 5 yrs from the end of the year in which loan is taken. If all these are satisfied - max 2 lacs
If not satisfied- max 30,000
Self occupied property
If loan is taken after 01.04.1999 & loan is taken for purchase or construction of house property & if taken for construction, it is completed within 5 yrs from the end of the year in which loan is taken. If all these are satisfied - max 2 lacs
If not satisfied- max 30,000
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