Doubts on 2nd Housing loan tax benefit

POSTED BY tilak ON April 16, 2014 1:59 pm ONE COMMENT

I am planning to take 2nd housing loan and my first housing loan in near to close.I stay in Hyderabad in govt accomodation and i constructed my first home in Assam where my brother stay.Now i am planning to take 2nd housing loan and trying to put the rent on 2nd house and i will continue to stay in govt accommodation.

Can you please guide how much amount of tax benefit i will get ? Please answer ..i am highly confused and also whether tax advantage may change if 1st housing loan will close

One reply on this article “Doubts on 2nd Housing loan tax benefit”

  1. ashalanshu says:

    Dear Tilak, on 2nd house, your rental income ‘ll be added but all the interest with out any limit ‘ll be available for set off.

    You may read past similar queries to get a clear view with examples given there. Closure of 1st home loan ‘ll not impact the benefit on 2nd home loan.

    Thanks

    Ashal

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