25 December 2009
u/s 24b in case of self occupied house property max. upto 150000/- Rs.30000 Generally (higher deductions are allowable only where the capital is borrowed after 01.04.99 and property is acquired/constructed within 3yrs from the end of FY in which capital was borrowed.)
25 December 2009
The maximum limit explained in 24b for two cases:- one is for construction or acquisition and other is for repiar or renovation 1,50000/- and 30000/- respectively. These two items are separate and not either.
26 December 2009
Deduction amount under section 24 b is Rs. 150000/- maximum (including Loan for Repairs etc.) (for self occupied property) i.e if loan is taken after 01.04.99 and property is acquired/constructed within 3yrs from the end of FY in which capital was borrowed