Multiple Home Loan & HRA benefit together. How ?

sakthi

12 years ago

Hi,

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.

No Pre-emi.

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.

Question :

Thanks

Sakthi