Rebate on hba

Now, two houses can be treated as self-occupied. In case of self-occupied property, annual value is NIL. Show both the properties in the ITR and claim actual interest payable as per bank certificate. Use ITR-2 if you don not have business or professional income otherwise ITR-3. Interest more than Rs.2 lacs will be carry forward and set-off. Repayment of housing principal is allowed as deduction u/s 80C within the limit of Rs.1.50 lacs.

You can claim deduction of 2 lacs only. If you have any co owner then that person can claim deduction of additional 2 lacs.

Hello,

You can claim the maximum deduction of Rs. 2 Lakhs u/s. 24.  Interest above Rs.2 lacs can be carry forward.

I hope this answer satisfies your requirements. 

Regards,

CA Hunny Badlani

You can claim maximum 2 lakh deduction. Deduction above that can only be claimed if rent income is received.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you

Dear Sir,

Hope you are doing well !!

The maximum deduction on interest payment of home loan taken for the property is currently capped at Rs 200,000.

 The interest more than Rs.2 lacs will be carry forward and set-off in next AY.

It is advisable to take a phone consultation for detailed discussion.

If you have give any of the house on rent, you can adjust interest against the rent amount.

The limit of 2 lacs is for set off of losses from house property and not for interest deduction.

it's little confusing. If you still have doubts, I would suggest you to take a phone consultation.

Hi

You can carry forward excess interest.