Harsh (Home) (91 Points)
08 March 2018
RAJA P M
("Do the Right Thing...!!!")
(128096 Points)
Replied 08 March 2018
tripti
(ca article)
(209 Points)
Replied 10 March 2018
DEDUCTION FOR INTEREST UNDER SEC 24(B) IS AVAILABLE AS FOLLOWS:
SELF OCCUPIED- 1. LOAN USED FOR REPAIR, RENEWAL OR RECONSTRUCTION OF HOUSE PROPERTY = MAX. 30000
2. LOAN USED FOR ACQUISITION OR CONSTRUCTION OF HP = MAX. 200000
IF ACQUISITION OR CONSTRUCTION IS NOT COMPLETED WITHIN 5 YEARS FROM THE END OF F.Y IN WHICH LOAN WAS TAKEN THEN MAX. DEDUCTION ALLOWED WILL BE 30000.
DEEMED LET OUT- FULLY ALLOWED.
DEDUCTION FOR PRINCIPAL REPAYMENT IS ALLOWED UNDER SEC 80C = MAX. 150000
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