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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.
Replies (2)
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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