It on second home in bangalore
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 October 2012
We live in Bangalore. Own a house where we live now and have finished housing loan on this property. Me and my husband want to invest together in a house for tax benefit. Please suggest if this is a good option for investment and can both of us avail IT benefit.
sivadas chettoor
(Expert)
01 October 2012
If you hold property jointly and take a joint loan you can avail the set off of interest u/s 24 and also benefit u/s 80C.
siva208@yahoo.com
siva208@yahoo.com
sivadas chettoor
(Expert)
01 October 2012
Please also note that in the case of second house the ALV (annual letting value) has to be computed on the basis of fair rent. But interest is allowable.
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