Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com ) (3468 Points)
21 February 2013If I have taken 2 housing loans for construction/purchase of two different houses, am I entitled to deduction of Rs 300,000 or 150,000 under section 24 of the IT Act 1961.
Regards,
manik
(ca in practice)
(420 Points)
Replied 21 February 2013
deduction of interest on borrowed capital is limited only to rs.150000 in case the same is borrowed for construction or purchase
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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