Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

Home loan tax exemption

Sham Rao (14 Points)

06 February 2020

dear Sir
details of 2020 of budget

Reply
Follow
Share

2 Replies

Kapadia Pravin (17259 Points)
Replied 07 February 2020

There are two taxation regimes as per 2020 budget.

Under new tax regime you do not get home loan (SOP) tax deduction under 24(b)

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

lakshey (student) (39 Points)
Replied 07 February 2020

In new tax regime you can take deduction of interest on housing loan u/s 24(b) but you can not set off loss from HP from any other head
you can carry forward that loss and if in future you have any income from HP then you can sett of your b/f loss against it

1 Like