07 February 2009
Hi, Just I want to clear my doubt on following points.
1.Whether Principal portion paid on loan taken for House for which possession w'ld be given after 2 years w'ld get lapsed, unlike Interest which w'ld be allowed in 5 equal instalments.
2.Is the limit of Rs 1.5Lacs is also applicable if I have only one House,which is given on rent& I am living in rented accomodation?
07 February 2009
It means if House is given on rent (assuming no other HP),then there is no limit of interest,we can claim whatever interest we have paid in FY.
CAclubindia
