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Income from house property

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(Querist)
13 December 2012 If an individual has taken Housing Loan for self occupied property then he will be allowed deduction of Rs. 150000/- now he is reconstructing the same house and bringing addition loan will he be allowed deduction of Rs. 150000/- over it also???
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@VaibhavJ

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@VaibhavJ (Expert)
13 December 2012 Hi,

NO deduction is allowed over Rs.1.50 lacs. You can deduct upto Rs.1.50 L for multiple loan taken.

Thanks//Vaibhav

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