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Section 24 (interest on house property)

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 July 2014 Finance bill 2014 states as "in clause (b), in the second proviso, for the words “one lakh fifty thousand rupees”, the words “two lakh rupees” shall be substituted with effect from the 1st day of
April, 2015.

Does it mean benift of 2 lakh can be taken for next financial year and in current year we can get benifit of only 1.5 lakhs.

Please advice
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CA SUNIL K GARG

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CA SUNIL K GARG (Expert)
29 July 2014 1.4.2015 means A>Y 2015-16, hence F.Y 2014-15
i.e current financial year 2014-15, u will be eligible for dud of 2 lacs
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CA UMESH DULAL

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CA UMESH DULAL (Expert)
29 July 2014 agree with CA Sunil
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