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Maximum limit can be used every year ?
Maximum limit of 2 lakhs deduction in sec 24 can be claimed for the first year or...on every coming new financial year the limit of 2lakh can be claimed ?
Replies (2)
For each a. y. you can claim deduction of rs. 2 lakhs under section 24(b)
Limit of deduction under 24(b) is per year and in every subsequent year as long as interest payment on housing loan is there.
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