URGENT

hi,

y nt u ll get deduction.

is ur doubt is regarding our exams or it about ur own life( r u purchasing a new house)

bcoz both the things goes differently.

u can claim a deduction for loan.

bye  tc .

regards,

ketan sarda.

if any further doubt, plz do send a PM.

bye

YES U CAN GET THE DEDUCTION OF INTEREST AGAIN ON NEW HOUSE IF U PURCHASE IT ON LOAN..........

yes u can surely claim deduction if u have taken loan for a new house

HEY FRNDS THNKS

yes you get deduction u/s 80c & 24(b), if you purchased new house on loan.

yes surely u will get deduction for interest on new house under section 24(b) and for instalment payment under section 80C if u purchase new house on loan. If u have any further doubt then send me PM

With regards

Vasu Gupta

Deduction can be claimed on the new house -interest portion under section 10(24) and the Repayment of the principal portion under 80C

yeah according to me you will deduction on interest u/s 80c

It is always upto assessee to choose self-occupied house.  There is no restriction on purchase of number of houses.  There is also no restriction on obtaining loan for buying house each time.  As for as Income Tax Act is concerned you will get deduction for interest and principal paid to the bank under relevant sections quoted above by others.

yes there is no restriction in respect of houses for claiming deduction on account of interest. so you can claim deduction in respect of all house in respect of which you take loans. in respect of self occupied house it is limited to 150000 if loan is taken after 1-4-1999

Yes, sure you will get deductions in respect of principal repaid and interest paid in respect of the new house you buy.  There is no restrictions on houses on which you can claim the above benefit.