Deduction

if you are purchase socond house  then it is deemed let out property & you will take full exemption of interest to second house but deduction of principa is not available u/s 80c to you but loss on house property of another house is setoff from othere income

Yes you can get the deduction of interest in case of purchase of second house

Yes, interest may also be claimed for H.Loan for a property which is let out.

He needs to provide the income from Let out Property also

Please reply me whether it is correct or wrong

Yes if there is any income from the let out property, he has to show the annual value as income from house property but he can claim the entire interest amount as exemption.

The assessee can opt for one house as a self-occupied and remaining houses deemed to be let out though it is not let out actually during the year and also can claim interest on both the houses simultaneously

i have doubt on interest on housing loan

one of the employee earning a salary of 22laksh per annum

he has given the Investment declaration of rs 12lakhs

construction of house started 3 months back

what is the Tax treatment for his Tax Liability

please help me out in this regards

yes the assessee can claim the deduction of int u/s 24 and for principal u/s 80C for both  the loans taken for house property.

yes, deduction will be available on both the houses subject to limit of section 24(2) i.e. Rs. 30,000 or Rs.1,50,000/- as applied in case of let-out and self-occupied respectivetly. LIMIT OF DEDCUTION IS NOT RESRICTED TO NUMBER OF HOUSE BUT ON AMOUNT AS MENTIONED ABOVE

He is eligible to claim interest u/s.24 After Completing the Construction of the house, untill he is not eligible.

Interest is in 2 forms

if the house takes completion 1 year or low it comes under current year int, if it takes more than that like 2 or 3 year we have to calculate prior period int.

1. current year interest - fully allowed in that year

2.prior period interest - Ded in 5 equal installments over a period of time