MAXIMUM DEDUCTION LIMIT

If the house is let out there is no restriction on claiming interest u/s 24. The actual amount of interest paid can be claimed as deductiion.

No limit.

Originally posted by : D н ! я σ √
	If the house is let out there is no restriction on claiming interest u/s 24. The actual amount of interest paid can be claimed as deductiion.

what do you mean by exemption of agriculture land if it covered in u/s 10(37)

Agree with Dhiraj, Prabeer and Gaurav.........in case of Let out house property, there is no limit for claiming deduction u/s. 24. Actual amount paid as interest will be deductible.

Where is the property is Self Occupied, the maximum amount deductible by way of Interest is Rs. 150000/-. However, if the sum is borrowed before 01-04-1999, the deduction is limited to Rs. 30000/- only.

Originally posted by : gaurav agrawal
	Originally posted by : D н ! я σ √ If the house is let out there is no restriction on claiming interest u/s 24. The actual amount of interest paid can be claimed as deductiion.     what do you mean by exemption of agriculture land if it covered in u/s 10(37)

10 (37) deals with COMPULSARY ACQUISITION OF URBAN AGRICULTURE LAND.... such amount recieved on acquisition is completely exempted....

 I agree with sandeep keswani

If the house is let out there is no restriction on claiming interest u/s 24. The actual amount of interest paid can be claimed as deductiion. And MAX. limit is rs 150000

their is no limit of intrest paid if house given on rent, amount paid as intt. is allowed u/s 24(b)

 If the property is given for rent then the assessee can claim interest with no limit. U/s 24. Actual amount paid as interest will be deductibel.

No limit

yaa there is no limit..............

IF THE PROPERTY IS GIVEN FOR RENT THERE IS NO RESTRICTION ON CLAIMING INTEREST ON U/S 24.ACTUAL AMOUNT OF INTEREST PAID CAN BE CLAIMED AS DEDUCTION.

no limit .