tax benefits on interest of housing loan
This query is : Resolved
25 January 2010
one of my client taken housing loan and claiming interest on such housing loan.
Now he want to take loan for another house. So can he claim interest on such loan taken for another house in addition to interest on current housing loan????
Now he want to take loan for another house. So can he claim interest on such loan taken for another house in addition to interest on current housing loan????
CA Prashant Gupta
(Expert)
25 January 2010
yes, there is no bar on taking more then one housing loan on more then one house.
CMA Ramesh Krishnan
(Expert)
26 January 2010
Agree with Mr.Prashant, also You need to show the income from House proerty for the another house because a person cannot claim two self occupied property in same time
Padmaja CA
(Expert)
29 January 2010
yes he can clime interest on new house as rented house not self occupied property
so if self occupied propery then interest allowed 150000/- only
But in case of rented property there is no limit to interest clime
so if self occupied propery then interest allowed 150000/- only
But in case of rented property there is no limit to interest clime
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