Interest benefit - self occupied property

[Rahul Bagaria]

Can I claim interest benefit for self occupied property in 5 equal instalments post the possession of the house.This is possible for let out property but the Act is silent for self occupied property.

AI Summary

Claiming Interest Benefits on Self-Occupied Property: Clarification on Five Equal Installments and Rs. 1.5 Lakh Limit A user inquired about claiming interest benefits for a self-occupied property in five equal installments after possession, noting that the law is unclear on this matter. A respondent clarified that it is possible to claim such benefits, with the stipulation that while there is no ceiling for rented properties, the limit for self-occupied properties is Rs. 1.5 lakhs.