Query on double housing loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 February 2011
Currently I have two housing loans:
1) Loan for a house in my native place (Dharwad). My parents live in that house right now
a.Annual interest paid on housing loan : Rs 1,30,000 (approx)
b.Annual principal paid on housing loan: Rs 40,000 (approx)
c.If I were to give this house for rent, I would earn approximately Rs 30,000 (Rs 2500/month) in this financial year
2)I have a flat undergoing construction in Bangalore. I expect to occupy this in June/July 2011 (Started paying the EMI from Oct-10)
a.Annual interest paid on this housing loan: Rs 1, 57000 (approx)
b.Annual principal paid on housing loan: Rs 47000 (approx)
I need guidance on how I claim deduction during my IT investment submittal & preferred mode of handling this/Recommendation.
1) Loan for a house in my native place (Dharwad). My parents live in that house right now
a.Annual interest paid on housing loan : Rs 1,30,000 (approx)
b.Annual principal paid on housing loan: Rs 40,000 (approx)
c.If I were to give this house for rent, I would earn approximately Rs 30,000 (Rs 2500/month) in this financial year
2)I have a flat undergoing construction in Bangalore. I expect to occupy this in June/July 2011 (Started paying the EMI from Oct-10)
a.Annual interest paid on this housing loan: Rs 1, 57000 (approx)
b.Annual principal paid on housing loan: Rs 47000 (approx)
I need guidance on how I claim deduction during my IT investment submittal & preferred mode of handling this/Recommendation.
24 February 2011
you can show the 1st home as let out & the 2nd home in bangalore as self occupied.
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