Section 24

Hi Pankaj,

I can see the option "Interest on housing loan Repayment(Only for self occupied property)" under section 24, when i was submitting my annual tax entry to my employer via thier portal. can you please help me to understand what this means and when i can use this option. I have home loan and paying EMI every month. can i use it to highlight the total Interest on my Home loan ?

Please suggest. Thank you.

asked Aug 10 '12 at 20:59 by amit katkar 6145

If you have taken home loan for a house which is occupied by you (not given on rent) and possession for same have already been taken by you, you can claim deduction for interest payment u/s 24 upto max Rs 1.5 lakh.

You need to mention total interest paid during financial year into this field.

answered Aug 12 '12 at 16:59 by Pankaj Batra 5.2k320


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Asked: Aug 10 '12 at 20:59

Seen: 2,181 times

Last updated: Aug 12 '12 at 16:59