Keshav Rama Murthy, Bangalore
Posted Discussions
Posted Replies

Tax benefit question
Q: I am planning to buy 2 apartments, both for investment purpose and would be taking loan for both of them. I get to understand that the first one is always deemed self-occupied and hence tax benefit of 1L for principal and 1.5L for interest paid is given. Is this true even if the property is not self-occupied and not given on rent? What will be the tax benefit would I get for both the apartments?

My replies to this discussion
Thank you so much for your response. My thoughts have slightly changed and I am looking to buy only one apartment and this is my first one. I will be letting this out on rent. How would the tax benefit work in this case? Will it be capped 1.5L (as in self-occupied) or no maximum limit? Thanks again.Thank you so much for your response. My thoughts have slightly changed and I am looking to buy only one apartment and this is my first one. I will be letting this out on rent. How would the tax benefit work in this case? Will it be capped 1.5L (as in self-occupied) or no maximum limit? Thanks again.
Anusha & Manjunath, Thank you for your kind response. Maybe my question was not so clear. Both the apartments are ready to move in. I am currently staying in my in-laws place. In this scenario, what would be the tax benefits I can claim for both the apartments which would be given on rent.Anusha & Manjunath, Thank you for your kind response. Maybe my question was not so clear. Both the apartments are ready to move in. I am currently staying in my in-laws place. In this scenario, what would be the tax benefits I can claim for both the apartments which would be given on rent.
Ask a Question
120 Characters Left





    Trending Categories

    CommonFloor Property Search Mobile App now available on Android, iOS and Windows!