Dear Sir,
Can I take second Home Loan, when my home loan is continued?
If yes, Can I get the tax benefit for both the loan under Housing Loan?
If, I can get the tax benefit, then please give me the notification no. for the same.
Please guide me.
2 Replies
RAJ
(CA)
(120 Points)
Replied 02 October 2009
You can take Second Home Loan, subject to condition that Bank grants you the same & you have additional Re-payment capacity,
Yes, You can get rebate u/s 80C (Maximum aggregate repayment permissible will be Rs. 1,00,000/-)
U/s 24(b) you get Max allowable interest payment upto Rs,1,50,000/- for Self-occupied House Property & for Second House Property if Rented.
praveen
(Chartered Accountant)
(6971 Points)
Replied 02 October 2009
You can take a second home loan
but max interest benefit for Self occupied property is - Rs.150000
no limit for rented property
Max principle payment benefit - Rs.100000 under section 80C
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