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?
Menu
Sec 24 limit
Replies (2)
In case of self occupied property you can claim maximum deduction of rs.200000 not more than this .
but in case of let out ,demmed to be let out ,partly let out or partly self occupied in all these case there is not maximum limit you can take deduction of actual intredt paid u/s 24 (b)
but in case of let out ,demmed to be let out ,partly let out or partly self occupied in all these case there is not maximum limit you can take deduction of actual intredt paid u/s 24 (b)
Thank you 😊
Recent Threads
- Demat of shares of private limited company
- Income only with share market around 5-6 lack
- Missed GST Reporting for March 2025
- Future and Option Turnover
- Outstanding demand
- Error in filing income tax return
- DRAFT - DIRECTOR's REPORT OF BASE LAYER NBFC
- Amt of LTCG required to be reinvested on house pro
- Charity Commissioner of Maharashtra site error
- GST under my personal name
Related Threads
CAclubindia
