Housing loan on second house
This query is : Resolved
17 November 2011
Whether deduction can be availed on principal payment towards purchase of second housing loan under section 80 C ? Also whether limit of housing loan interest of Rs, 150000/- covers two or more house?
Thanks
Thanks
Aijaz Shaikh
(Expert)
17 November 2011
If you have two houses the following provision shall apply:-
1st House-Self Occupied
-Benefit of 80C available on principal.
-Benefit of housing loan interest availaible to the extent of Rs. 1,50,000/-
2nd House-Deemed to be let out
-Calculate gross maintainable rent
-Benefit of 80C availaible on principal.
-Benefit of housing loan interest availaible to the extent of actual interest.
1st House-Self Occupied
-Benefit of 80C available on principal.
-Benefit of housing loan interest availaible to the extent of Rs. 1,50,000/-
2nd House-Deemed to be let out
-Calculate gross maintainable rent
-Benefit of 80C availaible on principal.
-Benefit of housing loan interest availaible to the extent of actual interest.
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Capital Gail Exemption Certificate
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- MSME disclosure and disallowance
- Accounting treatment of AMC alongwith the purchase of Laptop
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- 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
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
