Housing loan - emi

This query is : Resolved

TARIQUE RIZVI (Querist)
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24 February 2016
IS IT LIKE THIS:
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DEDUCTION OF INSTALLMENT PAYMENT IS 150000 FOR F.Y. 2014-15 UNDER SECTION 80-C

DEDUCTION OF INTEREST PAYMENT IS 200000 FOR F.Y. 2014-15 UNDER SECTION 24B IF PROPERTY IS SELF OCCUPIED

IF PROPERTY IS NOT SELF OCCUPIED THEN THE WHOLE AMOUNT OF INTEREST CAN C;AIM AS DEDUCTION UNDER SECTION 24B.

PLS CONFIRM

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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25 February 2016 Yes, you are right , if it is not sop you have to declare rental income, you can claim 100% interest u/s 24b on let out property.
U/s 80C maximum Rs.150000/- including Principal repayment can be Claimed.

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