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How many home loans are eligible for income tax benefit

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This query is : Resolved

J KOTESWARARAO (Querist)

18 October 2012 How many home loans are eligible for incometax benefits. (pls leave 80C as the savings r already crossed 1 lakh)

the interest we pay for the home loan is deductible for how many home loans? is it 2 or more?

and 1,50,000/- limit for interest is only for self occupied and for remaining there is no limit for interest paid. Is it not?

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

18 October 2012 Any no of home loans you can take for the purpose of eligible for income tax. But in such only one house property would be allowed you as self occupied and for remaining houses would be deemed as let out so you have to offer rent on such other houses.

The limit of self occupied property is Rs.150000 and for the let out properties is unlimited for the purpose of exemption claiming u/s 24(b).

OM SAI SRI SAI JAI JAI SAI

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