Intt on housing loan

This query is : Resolved

ankur (Querist)
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23 April 2009 if an individual has two housing property and both are self occupied. can taken housing loan for both properties.

can he claim the Intt and Princial for both housing property?

Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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23 April 2009 If a person has 2 House property as self occupied one of them (at his choice)shall be taxable as Deemed to let out property u/s 23(4)
Interest of self occupied HP shall be allowed up to Rs. 150000(or 30000)and
In respect of other deemed to be let out HP interest shall be allowed without any limit,

-- provided
. the person is owner of the HP and
. the person pays the interest or interest accrues to him.