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What are the IT benefits one can avail on a second home ?
i bought a flat 5 years back in banglore and a loan running for 20 years ( another 16 years )- its a joint loan between myself and spouse. Now i picked up a small villa property only land in a gated community . should i construct a house , rent it or move in . a bit confused. is it a good investment or another flat was a better investment . i need to another loan of around 25 lacs .
1 Answer
- Veers தமிழ்Lv 710 years agoFavorite Answer
IT benefit is about Rs.2.5 lakhs in a year maximum. If your first loan is not fully covered, the balance of 2.5 lakhs can be availed from the second loan. But anyhow consult a chartered accountant.
