2 home loans - Tax benefit limit

Tax planning 291 views 1 replies

I have 2 home loans. How much maximum can I save tax on interest paid. Is there a limit? Can both interest rates be added?

What is the smart way to save tax if having 2 home loans.

If my wife is a co borrower of home then can we both claim tax saving on interest independently or is there any restriction? Same with 80 C limit on home loan principle paid.

Replies (1)
Principal repayment of loan u/s Sec 80c, maximum limit 150000.
you can claim deduction u/s sec 24(b) with respect to interest 200000 each if house is self occupied


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