POSTED BY October 3, 2012 3:22 pm COMMENTS (2)ON
How do I get multiple home loan & HRA benefit together for my below said scenario?
Home Loan 1 : @ Madurai
Home loan amount : Rs 24.4 Lakh, EMI : Rs 27000,
Propoerty is at Madurai (home town).
Expected rent this FY is = Rs20000 only.
Because the house will be ready to occupy by Nov-2012 only.
Sole Owner of the property & Loan applicant is Only me.
Home Loan 2 : @ Chennai
Home loan amount : Rs 24 Lakh, Under construction ( Flat ).
It is being constructed in Chennai
Will be ready to occupy by : Jan 2014
Ist disbursement of loan : Rs 13.75 Lakh.
Instead I have availed Tranch based EMI option from HDFC.
I.e I have started paying my Principal amount through EMI even before the full disbursement loan.
Mywife is the Co-owner of this flat & she is the Co-applicant of this second Homeloan.
She is not working, hence she doesnot need Tax benefit. So I wish to avail the entire tax benefit from this 2nd loan.
HRA : @ Bangalore :
I am working at Bangalore hence staying in a rented house in Bangalore.
Rent : Rs 15500 per month.
I am getting HRA allowance as : Rs 20291 per month.