Deduction for interest on home loans limited by sanction-period, loan and property caps, and ownership condition. Deduction for interest on loans for acquisition of a residential house property is available to individual assessees for interest payable to eligible financial institutions or housing finance companies, subject to statutory caps, a prescribed loan sanction period, limits on sanctioned loan amount and property value, and a condition that the assessee did not own any residential house property on the date of sanction.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deduction for interest on home loans limited by sanction-period, loan and property caps, and ownership condition.
Deduction for interest on loans for acquisition of a residential house property is available to individual assessees for interest payable to eligible financial institutions or housing finance companies, subject to statutory caps, a prescribed loan sanction period, limits on sanctioned loan amount and property value, and a condition that the assessee did not own any residential house property on the date of sanction.
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