Housing loan interest deduction under section 24

can interest be claimed on a housing loan taken for the purchase of a 3rd house?one is owned by me and one is joining held ,received in gift.now want to purchase new house.No loan outstanding in earlier two property.
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Quick Summary
This discussion clarifies the rules for claiming interest deductions on housing loans under Section 24 in India. It explains that while you can claim deductions for a maximum of two self-occupied properties, any additional properties will be treated as 'let out' for tax purposes, even if not rented out. The specific scenario involves purchasing a third house and the implications for interest deductibility.

 

In India, an individual is allowed to claim a maximum of two houses as self-occupied for tax purposes. In case you use more than two properties for self-occupation, you need to pick any two of them as self-occupied. The remaining are going to be treated as let out properties even if you have not actually let them out.

No loan outstanding

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