I paid upto 3L towards repayment of my home. 2L towards interest and 1L towards principal.
Will i get an exemption of tax for Rs. 2.5L ? (1.5L - interest and 1L - principal) ??
1 Replies
saleemoddin
(php developer)
(66 Points)
Replied 11 May 2009
Yes. In case of one self occupied home interest deduction is limited to Rs 1.5 lac
In case of 2nd home, which is assumed rented out, there is no such limit.
You can calculate your income tax at www.payit.in Developed by www.mimir.in
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