Income tax benefit for more than 2 Home loans

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  1. Sarath chandran

    Sarath chandran New Member

    I am having existing home loan on a flat, which is self-occupied.
    I am planning for a second one , as investment.
    I have got an option to buy two small flats (1-BHK) , for which bank will be issuing two separate home loans.
    In that case, can I declare both of the new flats as Let-out and avail Income-tax benefit for let-out property for both ? (Of course, I need to show rental income from both 1-BHK flats )

    Kindly reply, as it will help me in making a decision on the second investment.

    Thanks in Advance,
    Sarath Chandran
  2. Amit Sahni

    Amit Sahni Active Member

    Yes, you can show both of them as let out and claim interest as well as principal deduction for both of them
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