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of <h1>Tax Deduction on Loan Interest: No Limit for Let-Out Properties, Up to Rs. 2 Lakh for Self-Occupied Under Section 24(b).</h1> When computing income chargeable to tax under 'Income from house property' for a let-out property, taxpayers can claim a deduction under section 24(b) for interest on loans taken for purchase, construction, repair, renewal, or reconstruction of the property. There is no limit on the interest deduction for let-out properties. However, for self-occupied properties, the deduction limit is either Rs. 2,00,000 or Rs. 30,000, depending on specific conditions.
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