How can I claim of tax benefit on second home loan

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32 Points Posted on 12 July 2020
I am availing tax benefit on one home loan already from 2009 now I want to claim for another home loan that I have taken in year 2019-20,both the homes are self occupied ,can I claim this,what is the procedure to fill the itr
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On 12 July 2020 at 11:50 Report
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If you've taken out a second home loan and already claim tax benefits on your first, you might still be eligible for deductions. While the maximum interest benefit is generally capped at £200,000 under the House Property head, specific sections like 80EEA may offer further relief, provided certain conditions are met. However, owning another property at the time of loan sanction can affect your eligibility for certain deductions.

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Practising CA
8954 Points Posted on 12 July 2020
Yes that's possible. However maximum interest benefit shall be restricted to 200000 under the House property head. You can benefit under sec 80EEA for loan taken in 2019-20 subject to conditions.
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On 12 July 2020 at 11:58
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Profession Business
28246 Points Posted on 12 July 2020
What's the value of the property?
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On 12 July 2020 at 12:15
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32 Points Posted on 12 July 2020
Thirty lakhs,but I have two homes in my name,for one home that I taking benefit under 24b and now I have purchased a flat, for that Can I claim for home loan interest benefit
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On 12 July 2020 at 12:34
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8 Points Posted on 12 July 2020
Nope, you can't take deduction u/s 80EEA since one of the condition to avail this benefit is, the individual shall not own any other house property ON THE DATE OF SANCTION OF LOAN. However, in your case, you already own a house.
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On 12 July 2020 at 14:29
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11 Points Posted on 05 April 2023
For second home GST, Registration ,Stamp duty is exampted or not
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On 05 April 2023 at 15:28

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