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Maximum allowable interest on housing loan on self occupied
property is
1.30000/- 2.100000/- 3.150000/-
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Answer Posted / sowmya
it depends ....
if all the follg.3 conditions are satisfied then max.
allowable amt.rs.150000 &the conditions are--
1.loan must be taken for purchase/construction
2.loan has to b taken on/after 1/4/1999
3.purchase/construction should get completedwithin 3yrs
from the end of the previous year(i.e 31/3) in which it is
taken
in all other cases max. deduction is rs.30000
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