A private limited company has taken loan to construct a house property and has accumulated interest of 12.5 lacs . The property is being rented to more than one tenants in the FY 08-09.
1. u/s 24(b) maximum interest on loan available is 1.5 lacs. Is the assessee entitled to get deduction u/s 24(b) of Rs 1.5 lacs on each let out property?
For example if the assessee has let out two floors of the house property to two different tenants and deriving income of 15 lacs each and incurred interest on house property of 5 lacs can the assess avail exemption u/s 24 (b) of Rs 3lacs
2. Can the company avail deduction of above mentioned Rs 12.5 lacs interest on loan in a single year?

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