Limit for Claiming Interest under Section 24

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  1. c m s rawat

    c m s rawat New Member

    sir ,
    i have following queries1.I have booked a flat in gurgaon and first instalment of loan was disbursed in January2011.I will probably get possession in april 2015.As per section 24 i will get rebate on income tax Rs30,000.00 only.

    But I have one more flat in rohini delhi

    2 in one of your blogs you have mentioned that in case of second property a house owner will get full rebate 2 lakh.3Please advise me and please let me know that from where i can i get concerned notification/circular as in similar case our employer is not giving benefit to my collegue and they are asking for notifiaction/circular.4.In IT india website is mentioned that in case of self occupied property this clause of Rs 30000/ is mentioned but it is not mentioned that for second/let out property it is not applicable.

    with regards
    Thank you
    c m s rawat
     
  2. Parul_Gupta

    Parul_Gupta Active Member

    As you this is your 2nd property, I'm assuming that you don't intent to use it for your own residence.

    And in such a case, the limit of Rs. 30,000 does not apply.

    It only applies in case of properties which are intended to be self occupied.
     
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