i am salaried employee (women) and my yrly income is 2.5 lakhs and i pay loan instlment on home loan so can i take full interest amt.for the relavant year as deduction or there is certain limit plz explain thank you
Home loan interest deduction
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Employee Queries Interest Deduction on Home Loan; Eligible for Up to Rs. 1,50,000 Deduction Annually Under Income Tax Rules. A salaried employee inquired about the possibility of claiming a full interest deduction on a home loan from her yearly income of 2.5 lakhs. The response clarified that for a self-acquired property, she can claim a deduction of up to Rs. 1,50,000 for the interest paid on the loan used to purchase the house. (AI Summary)