Home Loan benefit
This query is : Resolved
15 July 2009
I want to know that is there any benefit of taking two home loans at a time for getting any benefit in Income Tax Act....There can be two possibilities of having two home loans at a time i.e, either having two home loans for 1 property or having two home loans for two different properties...
I will be pretty thankful if someone can answer my query asap....
I will be pretty thankful if someone can answer my query asap....
15 July 2009
Loan interest - can be claimed under House property head.
Principal Repayment - Exempt under 80C.
Principal Repayment - Exempt under 80C.
15 July 2009
Sir, that i know but i wanted to know is there any benefit of having two home loans at a same time for getting any expemtion or deduction under Income Tax act...
to put it simple if accumulated interest of both the loans for the year gets to 1,50,000..is dere any possibility of getting the benefit of the whole amount...?
to put it simple if accumulated interest of both the loans for the year gets to 1,50,000..is dere any possibility of getting the benefit of the whole amount...?
16 July 2009
Hi Saurabh,
The act talks about home loans and not the number of home loans one can take. You can surely take two housing loans for same property and can avail the dedcutions under the prescribed limits.
The act talks about home loans and not the number of home loans one can take. You can surely take two housing loans for same property and can avail the dedcutions under the prescribed limits.
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
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Itr 1 processing
- Reporting Income under Section 44ADA
- ITR validation error - Balance sheet is not filled
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR returnFY25-26
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Registration as Authorised Representative of minor
- Article ship defecit
- Bank Accounts in Balance Sheet for ITR 3
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
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
