Deduction u/s 80c

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 February 2013 I have a self occupied resedential house taken on loan.I was claiming deduction u/s 80c for principal repayment & interest paid under Income from House property upto Rs.1,50,000 since 4 years.
From May2012 i have given the house to a bank for Rent.
Can I still claim both the deductions.

CA Suraj Lakhotia

CA Suraj Lakhotia (Expert)
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22 February 2013 Yes.

In this case you can claim actual amount of interest u/s 24(no upper limit) and principal u/s 80C

CA Prashant Gupta

CA Prashant Gupta (Expert)
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22 February 2013 giving property on rent doesn't make any difference.
you can still claim both
and 1,50,000 limit will be actual. So if interest is more then you can claim more

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