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Tax benifit on both housing loan

05 February 2017

As per 2017 bugdget, is one eligible to get upto 4Lakhs as tax benifit due to housing loan interest, if one property is self-occuipied (upto 2L) and other one is rented out (upto 2L) ?

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (193731 Points)
Replied 06 February 2017

Its interpretation is like this: If you have total loss from both the house properties, say Rs, 5 lakhs (Income from house property), you can get Rs. 2 lakhs as adjustment against your any other incomes in the same assessment year, while remaining 3 lakhs can be carried forward upto next 8 years for adjustment against income from house property.