Interest on housing loan constructio and renovation
This query is : Resolved
01 February 2016
Dear Experts
In case of an assessee having a lready availed Housing loan for construction and later for renovation.In such a case the assessee can deduct up to Rs 200000 for construction and Rs 30000 for renocation at atime.Kindly advice.
Thanks in advance
In case of an assessee having a lready availed Housing loan for construction and later for renovation.In such a case the assessee can deduct up to Rs 200000 for construction and Rs 30000 for renocation at atime.Kindly advice.
Thanks in advance
01 February 2016
Maximum ceiling Rs. 200,000 is applicable for self occupied as per the second proviso to section 24, which overrides the first proviso (Rs. 30,000 ceiling).
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