Home loan
This query is : Resolved
30 March 2009
Can a person avail home loan for a home at his native town (he will not live in his home town)?
Can a person avail 2 home loans at a time, one in his home town, one in his present place?
Can a person avail 2 home loans at a time, one in his home town, one in his present place?
Manmohan ACA, CS
(Expert)
30 March 2009
Yes a person can avail exemption for two loan provided he has taken loan and interest accrues on both of them.
if a person has house in two towns one shall be taxable as self occupied house and other's Annual value shall be taxable as deemed to let out property.
if a person has house in two towns one shall be taxable as self occupied house and other's Annual value shall be taxable as deemed to let out property.
30 March 2009
i agree with the expert
CA Nitin Wadhwani
(Expert)
31 March 2009
Other option is to show the second property as available for renting and therefore vacant throughout the year to avoid taxation as deemed to be let out property.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- Issuing of delivery challan by seller of goods
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
