16 June 2011
Dear Sir, Presently I have 2 residencial property. One I am using for my own use. The first one (Own use) loan I have cleared & have taken the interest benefit. The second property I purchased in 2006, the loan is still going on & the principal amount balance is Rs. 8.5 Lacs. So far I have not claim Interest amount benefit of 2nd property. Now I want to give second home on rent. & I am planning to take one more property & giving on rent. Can I claim both (2nd & 3rd Property) interest? Is there any maximum interest limit for claim?
16 June 2011
OUT OF THREE ONE PROPERTY WILL BE TREATED AS SELRF OCCUPIED AS PER UR CHOICE SO FAR AS LET OUT PROPERTY IS CONCERNED THERE IS NO LIMIT ON INTEREST DEDUCTIBLE ANY AMOUNT OF INTEREST PAID/PAYABLE IS DEDUCTIBLE CA MANOJ GUPTA JODHPUR 09828510543
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