https://www.taxtmi.com/acts?id=20423 Deduction in respect of interest on loan taken by an individual for acquisition of a residential property is allowed for assessment years beginning on 1 April 2017 and subsequent years, subject to a monetary ceiling and conditions: loan sanctioned by a defined financial institution within the specified period; loan amount and property value not exceeding prescribed ceilings; and the assessee not owning any residential house property on the date of sanction. Where allowed, the deduction is exclusive and not available under any other provision; defined terms include financial institution and housing finance company. en-us Mon, 29 Feb 2016 16:37:09 +0530 Mon, 29 Feb 2016 16:37:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=20423 Deduction in respect of interest on loan taken by an individual for acquisition of a residential property is allowed for assessment years beginning on 1 April 2017 and subsequent years, subject to a monetary ceiling and conditions: loan sanctioned by a defined financial institution within the specified period; loan amount and property value not exceeding prescribed ceilings; and the assessee not owning any residential house property on the date of sanction. Where allowed, the deduction is exclusive and not available under any other provision; defined terms include financial institution and housing finance company. Act-Rules Bill Mon, 29 Feb 2016 16:37:09 +0530 https://www.taxtmi.com/acts?id=20423