Is the deduction of interest on borrowed capital for acquisition of house property (total annual value) on a let out house property unlimited. E.g. if the interest outflow on the borrowed capital is INR 5 Lacs and income from rent received is just INR 1 lacs, the deduction can be allowed for INR 4 Lacs?
I’m planning to invest small amt say Rs.25000 in share market/mutual fund. I would be paying intrest of 21% pm.