28 July 2014
Hi all, if I have two housing loan & total interest amount is 3 lac(1.5+1.5 lac), Principal 50000/- (25+25) so can I take full amount or only 2 lac I can take as interest for 2 or more housings loan.
28 July 2014
if u have two houses, pls clarify wheather both r self occupied, on one is rented and other is self occupied. suppose both are self occupied, then annual value of one house will be nil and annual value of other house will be municipal value or fair rent , whichever is higher will be taken as deemed income and u will get the deduction of interest, as if the houses is rented out. pls note choice lies with the assessee to choose , which house be treated as rented and which one as self occupied
28 July 2014
SIR PLS NOTE THAT FOR THE A.Y 2014-15, INTT U/S 24 (b) IS 1.5 LACS FOR SELF OCCUPIED HOUSE AND NOT 2 LACS , WHICH IS APPLICABLE FROM 2015-16. REGARDING THE RENTED HOUSE , FULL INTT IS ALLOAWLE AGAINT RENTAL INCOME. HENCE U CAN CLIAM RS 1.5 LAC ON SELF OCCUPIED HOUSE AND RS 2 LAC OR ACTUAL INTT PAID ON RENTED HOUSE
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