Interest on housing loan

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 July 2015 I have taken a housing loan in fy 14-15 from 3 sources in december 14.The total interest payable by me for all three loans put together works out to 125000/- in fy 14-15.Can i claim a deduction under sec 24 of 200000/- or only 125000/- .Pl advise

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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16 July 2015 You can not claim more than actual interest. So you can claim Rs 1.25 Lacs only.

Deduction available is actual or Rs 2 Lacs whichever is lower.