Under Section 24, homeowners can claim a deduction for interest payments up to Rs2 lakh on their home loan, if the owner or his family resides in the house property. The deduction of up to Rs 2 Lakh applies even when the house is vacant. If you have rented out the property, the entire home loan interest is allowed as a deduction.
What does entire home loan interest mean? if it is more than 2 lakh that also we can claim?
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