-
-
-
Services
-
-
-
More
-
POSTED BY ON October 5, 2012 3:10 pm ONE COMMENT
I am paying EMI for home loan on a flat in a city other than I reside. I have rented out this flat. The INTREST PART of EMI is approx Rs.18000 and principle part 5500/- per month and rent gain is 6000/- pm. Parallel to this I have booked another flat which is under construction and likely to be ready by 2015.This flat is in same city where I reside on rent.I have taken home loan for this flat also. The EMI is approx 40000/- Pm for this. I am already taking benifit of HRA. Please convey me the following
what amount will be non taxable in both EMI.
Is the rent recived is taxable?
How much total tax can I save ?
My income comes in 30 percent tax slab and I am salaried.
2021 © Jagoinvestor.com All Right Reserved
For second house whatever interest component you pay per year will be tax free just like 80C investment in LIC policy.
For the first house the rent earned will be added to ur income and will be taxed accordingly.