Tax benefit for multiple home loans
This query is : Resolved
28 February 2024
Hi,
I have currently 2 home loans going in my name. One of the properties is self-occupied & other is currently vacant. Interest outgo is more than Rs. 2,00,000 per home loan (even after considering notional rent for second property which is vacant). My question is, if I want to claim tax benefit on the interest paid, will it be 2 Lac for two properties combined or 2 + 2 i.e. 4 Lac for two properties ?
I have currently 2 home loans going in my name. One of the properties is self-occupied & other is currently vacant. Interest outgo is more than Rs. 2,00,000 per home loan (even after considering notional rent for second property which is vacant). My question is, if I want to claim tax benefit on the interest paid, will it be 2 Lac for two properties combined or 2 + 2 i.e. 4 Lac for two properties ?
01 March 2024
Total deduction from interest on home loan is restricted to 2 lakhs, not per house basis. However, u can carry forward it for future years
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