Guys,
I have two own houses and i have been taking the benefit of the tax expecemtion on both the houses. I am showing one house as self occupied and the other one as rented.
How i am shifting into a rented house in the same locality due to some personal reasons. I would like to know if i can claim Tax benefit on the second house even if it is Rented out? Can i claim Tax Excemtion on both let out houses (after showing the rental income of-course)? I was getting a full excemption of the interest amount on my second house (which is more than 1.5L PA), will i get the same benefit if my second house is also let out?
Also can i claim Tax exemption on two houses in the same city and then claim HRA too?
Kindly advice, how best i should represent my assets in order to save a huge tax deduction.
Kindly assist.
CAclubindia
