18 March 2014
I hv purchased a property in 2011 n taken a loan of Rs 24.5 lakhs for the same . My question is how much deduction for interest is allowed to me 1.5 lakhs or 2.5 lakhs because
According to Union Budget 2013-14 , first time buyers of homes will get an additional deduction of Rs 1 lakh for home loans up to Rs 25 lakhs which will be over &above current Rs 1.5 lakhs deduction allowed for self occupied dwellings
Plz clear my doubt
Regards
Prashant Singh