It on second home in bangalore

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 October 2012 We live in Bangalore. Own a house where we live now and have finished housing loan on this property. Me and my husband want to invest together in a house for tax benefit. Please suggest if this is a good option for investment and can both of us avail IT benefit.

sivadas chettoor

sivadas chettoor (Expert)
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01 October 2012 If you hold property jointly and take a joint loan you can avail the set off of interest u/s 24 and also benefit u/s 80C.

siva208@yahoo.com

sivadas chettoor

sivadas chettoor (Expert)
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01 October 2012 Please also note that in the case of second house the ALV (annual letting value) has to be computed on the basis of fair rent. But interest is allowable.

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