INTEREST ON HOUSE BUILDING LOAN
Querist : Anonymous
Will i be able to get the deduction of full interest of 1.8 Lacs
Querist : Anonymous
Pls rectify me if I am not correct.
In case of Letout Property there is no maximum limit for allowing deduction in case of Interest hence the the total interest spend by you is Allowable as deduction u/s 24.
In case of self Occupied Property the maximum limit is Rs.150000/- hence if you spend Rs.160000/- towards interst than Rs.150000/- is allowable as deduction.In case if you spend Rs.90000/- then Rs.90000/- is allowable as dedution.
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