urgent query on house property

RS 150000/- FOR WHOLE HOUSE................NOT FOR SINGLE UNIT....

as full house is self occupied it will be trated as one unit

if he had took loan before 01 04 1999 then deduction will be only 30000

if he had took loan after     01 04 1999 then deduction will be         150000

Dear aayush,

Agree with friends, completely sef occupied property cannot be broken down in units.............so Total deduction will be 1.50lacs or 30,000

hi.. 

Acc. to given information , house is self occupied by Mr. X. If Mr. X has taken loan on or after 1.4.99 , he can claim interest u/s 24(b) Rs.150,000 or 30,000 accordingly..

if loan has taken for construction & acquisition and construction of property  completed within 3 yrs FY from yr of loan taken - he is legible for deduction of Rs. 150,000 

Dear Ayush

interest on House Property does not depends on wether the house is selef occupied wholly or partly

Following are the conditions that are required to get maximum deduction of interest of Rs. 150000

1) Loan must be taken on or after 1/4/99

2) Loan must be taken for purchase or construction of house property

3) Construction must be commpleted within 3 years from the end of the financial yearin which the loan was taken

4) a lender cetificate must be obtained, certfying fulfilment of above conditions.

Hence if the above conditions are satisfied then an assessee gets deduction of Rs. 150000 and if not satisfied then Rs. 30000

Dear Ayush, I am agree with above veiews.

dear Ayush

I am agree tooeith above said by other friends.

Agreed with Sharad.......................

150000 rs. for sure

THANKU GUYS SO MUCH