Deduction for interest on housing loans limited by loan sanction period, loan and property value caps, and non-ownership requirement. Deduction for interest on loans for acquisition of a residential house property is allowed to an individual from a defined financial institution, subject to an overall cap and four cumulative conditions: loan sanction within a specified period, loan amount ceiling, property value ceiling, and non-ownership of residential property at sanction; the deduction is exclusive of any other provision for the same interest.
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Provisions expressly mentioned in the judgment/order text.
Deduction for interest on housing loans limited by loan sanction period, loan and property value caps, and non-ownership requirement.
Deduction for interest on loans for acquisition of a residential house property is allowed to an individual from a defined financial institution, subject to an overall cap and four cumulative conditions: loan sanction within a specified period, loan amount ceiling, property value ceiling, and non-ownership of residential property at sanction; the deduction is exclusive of any other provision for the same interest.
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