Recognise the advantages of Income Tax Section 24

Rameshkumar0127 Sep, 2024Finance

The availability of Section 24 of the Income Tax Act for rented and self-occupied properties is another advantage for taxpayers. There is a maximum deduction of Rs. 2 lakh each financial year if the property is self-occupied. The amount of interest that can be deducted remains unlimited in the event that the property is rented out.