Interest on Home Loan for Tax rebate

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  1. sandy.bhatt

    sandy.bhatt New Member

    Hi,

    I have let out my home (in my name) and getting annual rental amt of 222000. I am paying annual interest of 240000 on home loan. My municipal tax is 3000 per year. So, loss from my property is 222000-3000-240000 = -21000. Under section 24 will I be eligible to claim 240000+21000 = 261000 as tax deduction?
     
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