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Dedction for home loan
can dedction for two home loan is avalible under section 24 and under section 80c
Replies (5)
For interest over home loans deduction u/s. 24(b)...... yes, but second HP will be 'let out' or 'Deemed let out.'
For principal repayment deduction u/s. 80C....... no, its available only over 'Self Occupied Property.'
okk but second proprty is under constrction then what cicumstances
The aggregate Interest paid over home loan for underconstruction property is available for deduction in FIVE equal annual installments from the year of completion of construction of the property.
Agree with Rambhia Sir
okk but it is possible to take gross annual value of property in first year of completation of constrction as a nill...
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