Deduction U/s 24(b) interest on home loan

What the propose of this home loan I mean if it is secondary
is it secondary or primary home loan

Secondary loan

Yes you can claim

Mukesh
you can easily claim interest on home loan and file returns.
But for which assesment year.

Ok you say it's your secondary loan for the same property
means let's say it's your the top up home loan which you get after mortgage of something
can you tell me why you take that means is it for repair or renovation or for construction or something else for your residential property........

Can anyone explain me primary and secondary home loan

Sabyasachi ji
it's for A.Y.20-21

@ mohd Khalid when we do home loan for purchase or construction of a new home we called it home loan or in other words primary or first home loan
but when you take a loan using mortgage as collateral while we still have another loan for same home for renovation, construction, repair, maintenance then it's know as secondary or second loan for same property
and deduction of interest are different in this case
from 1st loan the person get upto 17 0000 deduction in interest but from secondary loan if it for renovation or construction or repair or maintenance then if he or she has receipt then he or she can claim 30000 deduction
where's in principle it will only get from 1st loan not from second loan

OK thanks ayushmita mam I got it
But I think interest on home loan can claim upto 2lakh under sec 24

Yes when one loan for one property it's 2 lakh deduction
but when we take 2nd loan for renovation or construction for same property then 30000 deduction
but as per the rule sec 24 only 2 lakh for interest so if a party takes 30000 in 2nd loan then out of 2 lakh deduction now only left 17 lakhs so upto that the party get deduction for 1st loan and sorry I didn't ans your 44ae question due to my time availablity
I will dm you the ans tommorow

OK mam thank you

Welcome 😊