I own two houses, of which one is 2BHK owned from 2006 and the other is 3BHK bought in this year April 2014. Until last year I was living in the 2BHK house and I was availing interest benefit of Rs.1.5 lakh for the same. This year I moved to 3 BHK house and let out the 2BHK house for a rent of Rs.18000 pm. Currently I’m paying Rs.1.4 lakh home loan interest for the 2BHK house that has been let out for rent and Rs.4 lakh interest for the 3BHK house which is self occupied.
Please advise what is the maximum home loan interest benefit can I avail this year.
Thanks in advance!