Interest on house property

Hello,

Tax Benefit on Home Loan for payment of Interest is allowed as a deduction under Section 24 of the Income Tax Act. As per Section 24, the Income from House Property shall be reduced by the amount of Interest paid on Home Loan where the loan has been taken for the purpose of Purchase/ Construction/ Repair/ Renewal/ Reconstruction of a Residential House Property.

The maximum tax deduction allowed under Section 24 of a self-occupied property is subject to a maximum limit of Rs. 2 Lakhs (increased in Budget 2014 from 1.5 Lakhs to Rs. 2 Lakhs).

In case the property for which the Home Loan has been taken is not self-occupied, no maximum limit has been prescribed in this case and the taxpayer can take tax deduction of the whole interest amount under Section 24.

It is a deduction.

Originally posted by : Vishal Goel
	It is a deduction.

I understand the deduction process. But my question is

Mostly (not all) who give a property to LET OUT means, he already owns another property where they actually stay. This means why not the SELF OCCUPIED should get NO LIMIT on interest component instead of LET OUT property.

Any one to answer the logic behind this rule.

Question : why the limit on self occupied but no limit on let out property