Housing loan interest

This is said in first proviso of Sec 24 that property is acquired or constructed with capital borrowed on or after the 1st day of April,1999 and such acquisition or construction is completed [within three years from the end of the financial year in which capital was borrowed], the amount of deduction under this clause shall not exceed Rs.1,50,000.
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hi Dear Deduction vide amounting to Rs. 150000 is only for the property which is used for own residential purpose, businee etc. if the property is let out or deemed to be let out then there is no limit for the amount of deduction in respect of Interest. i hope it meet the requirements

Yes, you are right Mr. Ajay Jain.

thx Mr. Nitesh Jain

But it again depends upon the fact that whether the property is lop or SOP. If its isa SOP maximum amount of interest that can b claimed is 1,50,000 subject to the conditions mentioned in Section 24 if the Act. The ceiling of 1,50,000 does not apply to LOP. Any amount of interest as per the interest certificate can be claimed as interest from the bank.