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Tejas Chokshi |126 Answers |Ask -Follow

Tax Expert - Answered on Sep 11, 2023

Asked by Anonymous - Sep 05, 2023

Money

Hi Tejas,Hope you are doing great.I have an query regarding home loan.I have 2 flat,one I am residing and one I let out... and for both,home loans are going on.For tax purpose,I am putting my higher loan for interest deduction (200000),Can I get any deduction benefit on my 2nd house (for this I took loan on 2013)

Ans: basis the details you have provided, one in which you are residing may be considered as self-occupied and one which is let out . in both the cases, the deduction of the home loan interest paid to the approved housing finance company by banking channel and against certificate of interest issued by such company is available.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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