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How can I claim of tax benefit on second home loan

12 July 2020

I am availing tax benefit on one home loan already from 2009 now I want to claim for another home loan that I have taken in year 2019-20,both the homes are self occupied ,can I claim this,what is the procedure to fill the itr

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5 Replies

CA Raj Doshi (Practising CA) (8910 Points)
Replied 12 July 2020

Yes that's possible. However maximum interest benefit shall be restricted to 200000 under the House property head. You can benefit under sec 80EEA for loan taken in 2019-20 subject to conditions.

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sabyasachi mukherjee (27334 Points)
Replied 12 July 2020

What's the value of the property?

Amol Shinde (32 Points)
Replied 12 July 2020

Thirty lakhs,but I have two homes in my name,for one home that I taking benefit under 24b and now I have purchased a flat, for that Can I claim for home loan interest benefit

Reema Saw (8 Points)
Replied 12 July 2020

Nope, you can't take deduction u/s 80EEA since one of the condition to avail this benefit is, the individual shall not own any other house property ON THE DATE OF SANCTION OF LOAN. However, in your case, you already own a house.