07 June 2014
DEAR SIR, My query is- If a salary person take home loan on 2nd home & he pay RS-180000/- interest on both home loan. He also declare Rental income in Income also. Can he get interest rebate above 1.5 LAC.
Example- INTEREST PAID-180000/- Rent received annually -Rs-18000/-
07 June 2014
if house is let out then you can claim deduction u/s 24(b) without any limit of intt. Rs. 150000/- intt limit for self occupied house only.
CAclubindia
