For Salary Employees Investment / Deduction Code and Limit

For Salary Employees

Investment / Deduction Code and Limit

ITEM CODE	ITEMS	PARTICULARS	MAX Limit
HPLS1	DEDUCTION U/S 24	Interest on Housing Loan on fully constructed house availed before April 99 (Deduction will not be allowed if Hsg loan declaration form is not submitted)	30,000
HPLS2		Interest on Housing Loan on fully constructed house availed before After April 99 (Deduction will not be allowed if Hsg loan declaration form is not submitted)	200,000
LHLET		Loss from Let Out house property ( Employee should send separate declaration along with the required documents to Payroll Department.)	No Limit
PREMI		Interest Deduction for Pre EMI Interest paid during property under contruction. It is allowed only for cases who have recd possession in current F. Y.	1/5th of interest paid in previous years