can I take tax break for mortgage that I bought in India?

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I work in USA but planning to buy house in India. Can I take tax break on my home loan there?

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  1. Reply
    April 30, 2011 at 12:27 am

    You have posted this question in > United States. Also you use terms like ‘tax break’.

    INDIAN Income Tax Act, 1961 Section 80C and Section 24 grant deductions from income to people who have taken home loans.

    These deductions are capped at Rs 1 lakh for the principal repaid u/s 80C and Rs 1.5 lakhs for the interest paid u/s 24(b).


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