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