if I pay housing loan, where should I claim deduction for it?
if I pay housing loan, where should I claim deduction for it?
Chiranjibi Aug. 04, 2018
If you pay housing loan, you can claim it under Income from house property, just below the standard deduction of 30%.
You can claim up to Rs 2 lakhs (extra 50000 for your first house) as interest on housing loan.
Even if you had taken the loan before construction, you can claim the pre-construction interest in 5 equal installments from the year in which the property is completed.
