Tax savings for 2 home loan interest under section 24 b
Aravind (self) (25 Points)
31 December 2014Aravind (self) (25 Points)
31 December 2014
giri
(Student CA Final )
(32 Points)
Replied 31 December 2014
I am not sure whether you want to know the eligible interest for FY-13-14 or FY-14-15..as return for FY-13-14 can be filed till the end of this Assesment Year. So, i would like to give my opinion for both scenarios.
For the FY-13-14, the eligible interest would be Rs.1.5 Lakhs for 2BHK as it was the only house owned during the previous year.
For the FY-14-15, the eligible interest would be Rs.2 lakhs for 3BHK+ Rs.1.4 lakhs for 2BHK making a total of Rs.3.4 lakhs.
DHIRAJ MEHRA
(PROP.)
(21 Points)
Replied 01 January 2015
If the 3 BHK property is jointly owned, both the joint owner can claim 2 lacs each for interest u/s 24
Vinay Grover
(Grover Consultant)
(37 Points)
Replied 01 January 2015
Arif Ali
(Apt Co Advisory)
(1230 Points)
Replied 01 January 2015
I think you are asking for the FY14-15, so you can claim the interest for 3BHK upto 2 lac under section 24.
And for 2BHK since it is let out property then you can claim the interest deduction for 1.4 lac under section 24.
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)