Income tax benefit/implications on second home loan

POSTED BY sourav ON June 4, 2013 1:45 pm COMMENTS (4)

Hello 

My question is regarding a second home loan. I am planing to buy a second house in a different city where I am relocating. I already have a home loan on my first house and currently I am staying there.

But going forward I will be staying in the new house and my first house will be still occupied as my parents will be staying there. So in that way I am not putting any house on rent. 

To mention that my second home loan EMI will be much higher so I guess I should show my second house as let out.

I want to know how can I claim maximum tax benefit in this scenario.

regards

Sourav

4 replies on this article “Income tax benefit/implications on second home loan”

  1. Dear Sourav, please mail dear manish.

    manish@jagoinvestor.com

    You ‘ll get my personal gmail id & you can contact me over there.

    Alternatively, you can contact me over facebook if you do have an ID there.

    Thanks

    Ashal

    1. sourav says:

      Thanks Ashal, I will reach out to you soon…

  2. Dear Sourav, please treat the 2nd house as deemed rent & rest calculation I hope you know already.

    Thanks

    Ashal

    1. sourav says:

      Thanks Ashal for your response. I have some queries but its not possible to discuss them in forum, please suggest if there is a way to contact you.

      Thanks
      Sourav

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