11 February 2013
I have bought one house in chennai. As it was self occupied, I have been getting the total interest paid (Rs 1,25,000) towards the home loan as tax exemption. Now I have been shifted to Bangalore. I have let out the property for Rs 5,000 pm as rent (Rs 60,000 pa). I would like to know how much interest amount paid towards home loan will be considered for exemption. Please explain with example.
CAclubindia
