Tax benefits on Multiple properties on house loan

POSTED BY saurabh2864 ON May 3, 2014 9:11 am ONE COMMENT

We stay in a rented flat in Mumbai city (and availing HRA benefit) and intend to continue doing that, considering that being very close to both of our workplace.

I have a flat in the suburb of the city on home loan (and given on rent) and I am availing the tax benefit under the letout scheme.

I intend to buy another flat in some other suburb in Mumbai or in Bangalore and would like to put that also on rent.

Can I claim the tax benefit on this house as well under the “letout scheme (i.e. 100% of the interest paid becomes tax free after considering the actual/notional rental income)”???

In a nutshell – I will not have any self occupied house but 2 houses on letout scheme and myself residing on rent in 3rd and claiming HRA.

Can I do this?

One reply on this article “Tax benefits on Multiple properties on house loan”

  1. ashalanshu says:

    Dear Saurabh, if the houses in questions are on rent, you can purchase and declare N houses and their home loans for your Tax benefit.

    Thanks

    Ashal

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