Dear Sir,
I have a query on tax benefits on 2nd loan:
I have a flat at Coimbatore which is on loan for 6 lakhs & I am not getting any rent from there as my parents are staying there.
I have purchased a flat in Chennai for 56 lakhs on loan which I have rented out for 20,000/- p.m.
I am staying on a rented apartment in Chennai for 15,000/- p.m.
- Can I claim HRA benefits?
- Can I claim IT benefits u/s 24 for unlimited interest payment for my let out property @ Chennai?
- Can I declare my Coimbatore flat as self-occupied property for IT purposes?
- Should I continue both the loans to avail income tax exemption (or) can I close this 6 lakhs loan as I am planning to close the same?
Looking forward for your reply ...