Home loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 November 2012
Dear Sir,
As payment of home loan interest upto 150000/- is allowed as deduction. Please let me know that sum of Rs. 1.5 lacs can be claimed in a single financial year or it is allowled upto Rs. 1 lac u/s 80C and the rest amount of 50k is to claim in next FY?
Thanks & regards.
As payment of home loan interest upto 150000/- is allowed as deduction. Please let me know that sum of Rs. 1.5 lacs can be claimed in a single financial year or it is allowled upto Rs. 1 lac u/s 80C and the rest amount of 50k is to claim in next FY?
Thanks & regards.
CMA Ramesh Krishnan
(Expert)
04 November 2012
Housing interest is Rs.1.50 lakh maximum deduction is full deduction u/s.24b for self occupied property
What ever you are asking about Rs.1 lakh deduction is u/s 80C. under 80C only Housing loan principal repayment
So Housing loan principal repayment eligible u/s. 80C maximum of Rs. lakh
Housing loan interest is for self occupied property maximum of Rs.1.50 lakh is covered u/s.24b
What ever you are asking about Rs.1 lakh deduction is u/s 80C. under 80C only Housing loan principal repayment
So Housing loan principal repayment eligible u/s. 80C maximum of Rs. lakh
Housing loan interest is for self occupied property maximum of Rs.1.50 lakh is covered u/s.24b
CA Mihir Darji
(Expert)
04 November 2012
CMA Ramesh Krishnan is correct..
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