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TMI BlogApplicability of Interest deductionX X X X Extracts X X X X X X X X Extracts X X X X ..... Under the IT Act, deduction of pre possession EMI interest can be claimed in 5 equal instalments for self occupied property.However is the same law applicable to self occupied property, if so then is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it restricted to Rs.1,50,000 - Reply By CA GOPAL JI AGRAWAL - The Reply = Rahul Ji Whether the property is self occupied or let out, the provisions are same. Of course, the limit is Rs. 1.50 lac in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... both cases. - Reply By CA GOPAL JI AGRAWAL - The Reply = Further to my view, the restriction of Rs. 1.50 lac is applicable to self occupied house only not on let out one. - Reply By Ravi Chopra - The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Reply = Yes, you can claim the benefit of interest paid prior to possession related to that property, in five equal installments. There is no ceiling limit in case of rented property. But in case of s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elf occupied property the limit is Rs. 1.5 lakhs. I agree with the view of CA Gopal Ji Agrawal. - Applicability of Interest deduction - Query Started By: - Rahul Bagaria Dated:- 30-3-2009 Income Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Got 3 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TM ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... I - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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