Need A Financial Product › Forums › Tax Savings › How much tax benefit I will get on home loan

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  • November 7, 2014 at 6:50 pm #48332
    Sameer Kapoor
    Participant

    I am staying in rented accommodation in Delhi. I have constructed house by taking loan from PNB. I want to purchase 2nd house (fully constructed) in Bangalore by taking loan from SBI. I will rent out this house. Will I be eligible to get any tax benefit on this loan? If I repay PNB’s loan, will it have any sort of impact on tax benefit of 2nd home loan?

    November 9, 2014 at 2:02 am #48333
    samkapoor77
    Keymaster

    On 2nd loan, the entire amount of interest will be set off. Even if you repay your 1st loan in full, it will not impact tax benefit on your 2nd loan.

    January 25, 2015 at 9:16 pm #48527
    Sanjay
    Guest

    It should be treated as losses from house property.

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