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Dear Sir
I am a Central government employee and have availed a departmental home loan of Rs. 5 lakh
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Dear Sir
I am a Central government employee and have availed a departmental home loan of Rs. 5 lakhs to purchase ahouse in Bhopal and am paying regular EMI of Rs. 5000/- per month through regular salary payment. I am availing tax benefit of Interest on home loan since last 3 years. By taking Housing loan of Rupees 10 lakhs from LICHFL I have purchased another house in Bhopal in my wife's name and I am co-applicant. My wife has no source of income and I am regular clearing the EMIs of LICHFL from my salary. Am I eligible for availing tax benefit of Interest on home loan for the second house. This year the accrued interest of the first house is Rs. 18000/- and I think I still can reduce my tax payable by reducing the Interest on home loan of the second house from my Total salary.
Thanks
D
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Home Loans
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Asked by basant -
1 year ago
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Best Answer:
The main idea behind taking joint home loan is to save tax. If you have taken loan in joint with your wife and are paying the EMI it is fine. You can avail the tax benefit as per section 80C. You should check with your bank also about this. To get information about home loan visit rupeetimes.com.
1 year ago - By Jonty
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