HRA and interest deduction from 2 properties

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  1. InvestorDel

    InvestorDel New Member

    In addition, owning more than one property attracts wealth tax ? Can you elaborate what it is and how much would I have to pay ?
    Thanks.
     
  2. jagmohan singh

    jagmohan singh New Member

    In case two or more flats or house r used by the owner for his residence, the assessee has the option to choose one of the self occupied house or flat
    for which, he would like to get exemption from tax.
    If u took a home loan and r still living in a rental place u will be entitled :
    1) Tax benefit on principal repayment u/s 80C on both loans upto Rs. 100000/-
    2) Tax benefit on interest payment u/s 24 Rs 150000/- or actual paid whichever is lower (self occupied house) but in other ,u can claim actual
    interest paid and there is no limit for the same.
    3) HRA benefit
     
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