Just a moment...

Top
Help
AI OCR

Convert scanned orders, printed notices, PDFs and images into clean, searchable, editable text within seconds. Starting at 2 Credits/page

Try Now
×

By creating an account you can:

Logo TaxTMI
>
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters0/2000
TMI Blog
Home / RSS

In case of a self-occupied property, how much of interest on housing loan can be claimed as deduction?

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....d, then the limit in respect of interest on borrowed capital will be Rs.2,00,000: ➣ Capital is borrowed on or after 1-4-1999. ➣ Capital is borrowed for the purpose of acquisition or construction (i.e., not for repair, renewal, reconstruction). ➣ Acquisition or construction is completed within 5 years from the end of the financial year in which the capital was borrowed. &#1....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tioned by the financial institution during the period beginning on the 01-04-2016 and ending on 31-03-2017; (b) the amount of loan should not exceed Rs. 35 lakhs; (c) the value of residential house property should not exceed Rs. 50 lakh; and (d) the assessee should not own any residential house property on the date of sanction of loan. Deduction from Assessment Year 2020-21 With an objecti....