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interest u/s 24b house property
I have queiry regarding interest claim u/s 24b where maximum deduction is 2lac , the question is this if I bought property on jointly and emi paying by one co-owner and property is on let out on rent and income or loss from property will be arise...than in this sencario the maximum interest benefit is 2 lac available now...both co-owner can avail the interest benefit of 2 lac each...
Replies (9)
Yes... Both Co-owner can avail the benefit.
If u letout your property, there is no limit of maximum deduction of housing loan interest u/s 24b. But, if your house is self occupied, then the interest on loan limit is restricted to ₹2,00,000 u/s 24b.
Hi nitin
thanks for the reply but same limit have been removed from last year onward and maximum deduction allowed is restricted on 2lac
thanks for the reply but same limit have been removed from last year onward and maximum deduction allowed is restricted on 2lac
| Originally posted by : suresh sharma | ||
 |
Hi nitinthanks for the reply but same limit have been removed from last year onward and maximum deduction allowed is restricted on 2lac |  |
Very nice...
Exactly
No sir, interest is fully allowed to letout property for the F.Y.2017-18. Limit of interest on loan u/s 24b ₹2,00,000 to self occupied property.
please read the section 24 of you ncome tax carefully
| Originally posted by : Nitin Mahale | ||
|
No sir, interest is fully allowed to letout property for the F.Y.2017-18. Limit of interest on loan u/s 24b ₹2,00,000 to self occupied property. | |
Dear.,
From AY 2018-19 the Interest is restricted Rs. 2lakhs.
Oh... Ok sir,. Thank you for information.
| Originally posted by : Nitin Mahale | ||
|
Oh... Ok sir,. Thank you for information. | |
You are welcome dear....
https://taxadda.com/income-tax/house-property/deduction-of-interest-sec-24b/
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