Deduction on interest of two home loan

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1 Points Posted on 25 January 2021
I have two home loans, self occupied and self owned. In AY 2021-22 I have to paid interest Rs.30000 & Rs.120000 for these two.
Can I claim a total deduction of Rs.150000 as interest in assessment of tax. If yes, then by which section 90EEA or any other?
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On 25 January 2021 at 12:31 Report
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Quick Summary
If you have two home loans, one for a self-occupied property and another for a self-owned one, you can claim deductions on the interest paid. For self-occupied properties, the interest deduction limit is up to £200,000 per year under Section 24. Additionally, you may be eligible for principal deduction under Section 80C.

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Chartered Accountant
24588 Points Posted on 25 January 2021
Yes you can claim interest for self occupied house upto 200000 rupees. you can claim 150000 rupees
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On 25 January 2021 at 15:31
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Tax consultant
5895 Points Posted on 25 January 2021
Yes you can claim interest as per sec 24
and also can get principal deduction as per sec 80
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On 25 January 2021 at 15:56

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