Housing loan repayment

160000 wud be shown as a loss for arriving at gross taxable income. 15000 wud be eligible for deduction u/s 80C

thank u, but other confusion is that Mr. A is already paying small previous hsg loan at another area. Is he eligible to get benefits of both loan on his name? or eligible only to get only one loan out of two or only 1st loan or only second loan ?

thanks

if he's owning more than 1 house property then he needs to show notional rent received as his income. from such income he is eligible for deduction of interest on housing loan.

1st property is kept empty due to job transfer so no any rental income and he borrowed second loan for 2nd house which he is residing, now i understand from your reply that he can eligible to deduct interest from both loan and for principal amt from one loan only is eligible. m i right? thanks for your reply.

no you didn't get it properly he is eligible for principal and interest amount for both loans. however for the second house he needs to show it as deemed to be let out

ok, sir, got it.