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