1. #1

    What is the difference between Housing Loan - Self and Let Out?

    I was asked by company to submit the IPSF (Investment proof) by end of year and in the portal they have mentioned about proof submission of Housing Loan which is of two category Loan - Self and Loan - Let Out? What does it mean? Can you please provide me details on this?

  2. #2
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    Sep 2012

    Re: What is the difference between Housing Loan - Self and Let Out?

    Dear Friend!

    Fixed and variable rates might be the greatest differentiation between mortgage, but there are a whole host of specialised products designed for different circumstances. Under the head Income From House Property for interest on home loan in the proportion on ownership as per the conditions below.
    In case of self-occupied property - Deduction allowed up to 1.50 lakh per annual.
    In case of Let-Out Property - There is no upper ceilling on the deduction that can be claimed for interest payment of home loan.

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