Home loan eligibility and tax treatment in case of second home

He is eligible in two ways

1.  if let out the second house:

than entire amount of interest paid can be claimed u/s 24 and upto 150000 can claim u/s 80c as principal repaid.

2.  if second house is self occupied:

than interest paid can be claimed u/s 24 maximum INR 150000/- and upto 150000 can claim u/s 80c as principal repaid.

sir my question is, can one get  the benefit of housing loan under 80 C and interest payment second time if one has already availed it once

 As far as I know, for second house property no deduction is available for repayment towards the principal portion of housing loan under section 80C.

Interest u/s 24 (b) can be claimed for second house as mentioned by tax pandit but deduction u/s 80 C is not available for the second house. Assessee has the option to opt one house as self occupied and other house will be treated as deemed let out ( if not actually let out)  so 

1. If assessee opts second house as self occupied then interest upto 150000 p.a. can be claimed.

2. If second house is let out or deemed let out then entire interest can be claimed.

Dear Shalini,

we can claim benefit u/s 80C for repayment of principal portion of loan for second house also.

can we take income tax benefit on the interest payment of second house.  

Deduction is admissible.

S.80C(2)  The sums referred to in sub-section (1) shall be any sums paid or deposited in the previous year by the assessee 

(xviii)for the purposes of purchase or construction of a residential house property the income from which is chargeable to tax under the head "Income from house property" (or which would, if it had not been used for the assessee's own residence, have been chargeable to tax under that head), where such payments are made towards or by way of—

(c) repayment of the amount borrowed by the assessee....