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

This topic contains 2 replies, has 3 voices, and was last updated by  Sanjay 1 year, 10 months ago.

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  • #48332

    Atul Shah
    Member

    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?

    #48333

    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.

    #48527

    Sanjay

    It should be treated as losses from house property.

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