Home Loan examption.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 August 2010 Hi ,

I am having two home loan in my name as follows.
1 . Self occupied where I am currently staying
2. Occupied by my parent.

What is the best possible way to get tax benefits under sections 88 and 24 ??

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

13 August 2010

One house canbe treated as self occupied and once house is deemed to be let out, the option of chossing the house is your choice.

80 C avaliable for both

Interest u/s.24 available for self occupied Maximum Rs.1.5 lakhs and deemed to be letout the actual interest

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
Follow

13 August 2010 Its section 80C & not 88.

benefit under 80 C & 24 can be availed in case of one home loan while the other home will be treated as deemed to be let out.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Krishnaveni karur

Shameem ahmed

hitesh chandwani

Shubham Jain

MEHUL M. KEVAT

Subscribe Now

Home Loan examption.

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Manager- Finance and Compliance

GST CONSULTANT

Article Assistant

Accountant

GST CONSULTANCY