I have self occupied house and one another house deemed to be let out.
What will be reduction on my salary under income tax against the interest of my house loan which is deemed to be let out.
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Tax reduction under house loan (deemed to be let out)
Replies (1)
Hi Mahipal,
The interest limit of 1.5 lacs is applicable only for self occupied. As per the IT Act, once you show any house as let out, you can claim the interest fully to the extent you paid in such financial year.
Hence in this case there are no limits.
Trust this clarifies.
Suri.
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