Sir
Can we consider two seperate Bank's housing loan u/s 80c and 24(b) for two different flats.
Thanks
Deepak Tapse (Accounts Manager - Taxation) (1771 Points)
23 February 2011Sir
Can we consider two seperate Bank's housing loan u/s 80c and 24(b) for two different flats.
Thanks
Pankaj Arora
(Learner)
(3134 Points)
Replied 23 February 2011
you can take deduction of interest 1.50 Lakh only for one self occupied house ..
Vignesh Killur
(Articled Assistant)
(1666 Points)
Replied 23 February 2011
Yes. For self occupied House property the limit for interest claimable is Rs 150,000. And for let out or deemed to be let out HP there is no limit for interest claimable. The loan can be of different banks. There is no restriction under the IT Act
CA.GAURAV SACHWANI
(JOB)
(161 Points)
Replied 23 February 2011
Principal paid on housing loan can be claimed under Sec 80C up to the total limit of Rs1lacs only whether one house or more than one house
Originally posted by : CA.GAURAV SACHWANI | ||
Principal paid on housing loan can be claimed under Sec 80C up to the total limit of Rs1lacs only whether one house or more than one house |
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