House Property Amendment for Assessment Year 2015-16

By | December 19, 2014
Recent House Property Amendment for Assessment Year 2015-16
by 19.12.2014


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HOUSE PROPERTY
(LATEST AMENDMENT FOR ASSESSMENT YEAR 2015-2016)
DEDUCTION U/S.24:
1.      INTEREST ON HOUSING LOAN UP TO A MAXIMUM OF `.200,000
CONDITIONS:
LOAN TAKEN FOR ACQUISITION (OR) CONSTRUCTION OF A HOUSE PROPERTY TAKEN ON OR AFTER 01.04.1999 AND COSTRUCTION SHOULD BE FINISHED WITHIN 3 YEARS FROM THE END OF THE FINANCIAL YEAR IN WHICH THE CAPITAL WAS BORROWED.
2.      REPAIRS AND RENNOVATION PURPOSES & IF ABOVE SAID CONDITION IS NOT SATISFIED:
INTEREST ON HOUSING LOAN UPTO A MAXIMUM OF `.30,000

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