Tax savings for 2 home loan interest under section 24 b

I am not sure whether you want to know the eligible interest for FY-13-14 or FY-14-15..as return for FY-13-14 can be filed till the end of this Assesment Year. So, i would like to give my opinion for both scenarios.

For the FY-13-14, the eligible interest would be Rs.1.5 Lakhs for 2BHK as it was the only house owned during the previous year.

For the FY-14-15, the eligible interest would be Rs.2 lakhs for 3BHK+ Rs.1.4 lakhs for 2BHK making a total of Rs.3.4 lakhs.

If the 3 BHK property is jointly owned, both the joint owner can claim 2 lacs each for interest u/s 24

Thanks Giri and Dhiraj!

I think you are asking for the FY14-15, so you can claim the interest for 3BHK upto 2 lac under section 24.

And for 2BHK since it is let out property then you can claim the interest deduction for 1.4 lac under section 24.