Incometax benefit for 2 housing loan

Tax planning 459 views 2 replies

 

We  had  taken 1st housing loan  and  taken yearly benefit of principal and interest under income tax. 

We had sold that house and purchased new house.

During the current year  financial year  we have repaid fully 1st housing loan and paying regualar  installment of 2nd housing loan.  

Under 80 C can we take the benifit of both repayment of principal for  housing loan?

 

Best Regards

 

Pallavi

 

 

 

 

 

 

Replies (2)

yes u can. up to the Limit of Rs.1,00,000 u/s 80C ..

no u cnt take benefit double. to claim repayment and interest u should be the owner of the house. since u sold the house which means ur no longer owner of the house. but u can take the benefit u/s 80 c of principal repayment upto 1 lacs and us 24 ( b ) interest under the head house property.


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