Tax Benefits of multiple home loan

Hi, My question is regarding change in the budget 2017 for tax benefit on Housing Loan.


I have 2 housing loan for 2 properties. I paid Principle of 54702/- and Interest of 178181/- on the self occupied property and Principle of 78686 and Interest of 250600/- on Let-Out property for the current financial year 2017-18. For the sake of simplicity, let us assume there is no rental income. So my questions, shall I get tax benefit on Interest for only upto 2 lakhs (putting together both the properties) OR I will get tax benefit for 178181+200000 (benefit capped at 2 lakh for Let-out property).


My employer is providing me a tax benefit of only 2 lakh for both the properties and I feel it is wrong, hence looking for your advice




mtambi Asked on December 29, 2017 in Taxations.
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1 Answer(s)

Last budget has limited the interest under house property to 2 Lac. You can carry over the same against future House property Income


TaxIQ Answered on January 1, 2018.
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