Income tax exemption against house property


prosanta bordoloi (AAO)     20 February 2013

prosanta bordoloi
AAO 
 83 points

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One of our employee has two houses and two separate house building construction loan , loan interest of the first house comes to Rs 1.4 lacs and the second house comes to Rs 1.3 lacs , can he get interst subsidy (beyond 1.5  lacs) against the two houses ? 

Pl reply 

avater

CA Gaurav Kaushik (Practicing Chartered Accountant)     20 February 2013

CA Gaurav Kaushik
Practicing Chartered Accountant 
 9 likes  123 points

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He Can get the deduction of interest beyond 1.5 lacs if  one of the property is let out


(Guest)

Interest limit:

Self Occupied: Maximum of Rs.1.5 lakhs

Let Out: No Limit


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