http://www.moneyspidery.com/2012/01/30/double-home-loan-repayment-exemption-limit-to-rs-3-lakh-icai/
Seeking relief for home buyers, accounting regulator ICAI has asked the Finance Ministry to double the tax exemption limit on loan repayment to Rs 3 lakh.
“…it is suggested that the deduction in respect of interest on housing loan in case of self occupied property should be increased from Rs 1.5 lakh to Rs 3 lakh”, ICAI said in a pre-Budget memorandum to Finance Minister Pranab Mukherjee.