POSTED BY February 6, 2015 12:41 pm ONE COMMENTON
We have a Flat in chennai for 28L for which we are paying an emi of 32k/month. claiming an Income Tax Exemption in 80 C and 24b and HRA also as we have rented out for 8k/month. We plan to take second home loan in Bangalore for 40Lac.
How can we claim the Tax Exemption in the second one as it is a under construction and will be completed after one year only.
Could you please explain us how can we claim the Tax Exemption from the second home as interest rate of the second one will be more.