Hi,
I have below setup.
- House-1 : Ahmedabad. Jointly owned by me and sister. Home loan of 10 lakh in my name. Sister lives there. I am taking home loan benefits in this loan. Sister stays there.
- House-2: Navi Mumbai. Self-occupied. Have taken loan-against-property in this. Not tax benefits for this one.
- Office-1: Ahmedabad. On My name. I have taken commercial property loan for this from HDFC. No tax benefits for this one. Rented out.
- House-3: Ahmedabad. I have just seen one flat in Ahmedabad, I and my NRI brother thinking of buying it in joint name. I am planning to take home loan only in my name for this house. This house is rented and there is income from rent.
Question for House-3 is,
- What tax benefits I can avail for the House-3? How?
2. Will it be TAX wise beneficial to go for Home Loan for House-3 in name, or just buy paying full amount?