Income tax benefit on second house, staying on rent in another city

POSTED BY shreeganesh ON April 26, 2014 10:41 am COMMENTS (2)

I have a own flat “A” in Mumbai , where my family stays and I stay in rented house “C” in Bangalore where I work. Recently I bought another flat “B”in Mumbai with housing loan.  This will be kept vacant, at least  for next 1 year.

1. Can I show , house “A” as self occupied

2. claim income tax benefit on housing loan  interest  (without upper limit), under section             24 on property “B” .

3. At the same time can I claim income tax benefit on HRA as I am paying rent for house “C” in Bangalore.

 

 

2 replies on this article “Income tax benefit on second house, staying on rent in another city”

  1. shreeganesh says:

    Dear Ashal , Thanks for answer

  2. ashalanshu says:

    Dear Shreeganesh, please claim A as self occupied, B as rented but full home loan interest and C for HRA.

    Thanks

    Ashal

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