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Deduction u/s. 80c

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 December 2011 Can an Individual claim the benefit of Home Loan repayment u/s. 24(b) & 80C for two home loans.
Is there any provision which says one can get only one Home loan.
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
11 December 2011 within the limit, any number of house loan is allowed
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CA Hardik Bunha

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CA Hardik Bunha (Expert)
11 December 2011 Yes you can deduct interest u/s 24(b) and repayment u/s 80c if there are two loans. Merge interest and repayment of two loans. but within limit - deduction
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Abhishek Ranjan Singh

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Abhishek Ranjan Singh (Expert)
11 December 2011 Yes you can claim interest(Maximum Rs.1.5 Lakh) and repayment amount(Maximum Rs. 1 Lakh) for both the house but total amount should be within maximum limit and at list one house would be shown as rented.

Abhishek Ranjan Singh
ARS Solutions
email2ars@gmail.com
+91 9022838615
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