13 March 2012
I am DDO in Govt PSU. An employee is claiming deduction u/s 24(b) as: 1.) 3,00,000/- on his one house on rent out 2.) 1,50,000 for second house (self occupied) He argue there is no limit for deduction u/s 24 (b) for rent out house.
13 March 2012
yes. for let out house property, interest claim u/s.24b is actual. so there is no maximum limit. actual interest as per certificate can be allowed