Tax Query

Parmod Agarwal (Assistant Manager) (394 Points)

28 January 2010  

Dear All,

Mr. A has taken a House loan 25.11.2002 for constructiion of house for

residental purpose. He paid Rs. 170000/- as interest on the above loan.

Last date of Repayment of above loan will come in March,2015. My query

is that :

How many year Mr. A  can claim the Deduction of Interest U/s 24(b)? i.e. can he claim the deduction of Interest on Housing loan upto March,2015 or any

other condition are specified in Income Tax Act.

Please clarify the same.  It is most urgent.

 

Thanks

 

Parmod