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Help regarding home loan tax deduction
Respected sir and madam,
My father took home loan of amount 25lacs from SBI in year 2014. He is being paying emi of rs. 33400.What is the amount of deduction he would be eligible under sec 80c and sec 24. He does not reside in the new house as he stays in other city due to his employment and he also gets deduction under HRA. What are the requirements for claiming the deduction? Are there any doc. that are to be needed to be taken from bank for submission.???
Replies (2)
no need to submit any documents. asks bank for break up of interest and principal. claim principal in 80C-max 150,000.
Claim interest u/s 24. no interest limit for letout property
Thank u CA Venkatesh Dangeti.
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