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Interest on lloan exemption u/s 80 c / 24(b)

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 September 2012 Kindly advise on availing exemption of the following:

Assessee is Salaried employee and having own house which is given for letout.

He has availed a loan from NBFC on that property (not for purchase of property mortgaged)and the NBFC providing the interest certificate as Housing loan to be claimed u/s 80C(2)(XViii) & 24 (b) of the Income Tax Act, 1961.

Kindly guide what is the maximum deduction for the AY 2013-14
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Nayan Das

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Nayan Das (Expert)
07 September 2012 80 C INTEREST AMOUNT
24 (b) PRICIAL AMOUNT FOR HOUSE LOAN IN CLAIM FULL AMOUNT
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Querist : Anonymous

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Querist : Anonymous (Querist)
07 September 2012 80(c) may be principle repaid and 24(b) for interest .
Please confirm
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Nayan Das

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Nayan Das (Expert)
07 September 2012 yes, you are right. 24(b) interest borrowed capital is deductable up to 150000/-

and also pricipal value deduct 80 c

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