Existing (Financial Year 2016 - 2017 or AY 2017-18)
- In case of Self Occupied Property,Maximum 200000 is allowed as Deduction for Interest on housing loan
- In case of Rented Property, Deduction for Interest on housing loan is allowed without any limit
- Loss if any can be setoff with any other Income without any limit
- Remaining loss can be carry forward for 8 years and adjusted against loss from House Property
New(Financial Year 2017 - 2018 or AY 2018-19)
- In case of Self Occupied Property,Maximum 200000 is allowed as Deduction for Interest on housing loan
- In case of Rented Property, Deduction for Interest on housing loan is allowed without any limit
- Loss if any can be setoff with any other Income without any limit only upto 2 lacs
- Remaining loss can be carry forward for 8 years and adjusted against loss from House Property