Tax exemption for 2 home loans one closed & other open in same year

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  1. mahesh6ag

    mahesh6ag New Member

    Dear Tax Experts

    Happy new year to all of you!!
    I would like to know how to claim tax exemption for 2 home loan, but at a time only one is running.
    My first home loan ended in Sep-2014, with the last EMI deposited, & the Second home loan started just next month from October-2014.

    As at a time only one loan is running, shall I add the principal & interest of both the home loans & claim for exemption using ITR-1.
    Princial (HL1) + Principal (HL2) = Total Principal
    Interest (Hl1) + Interest(HL2) = Total Interest.

    OR I need to avail Exemption filing as 2nd home loan separately using ITR-2.
    Please advice me, would appreciate your urgent advice.
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