Claim tax benefits on a second home loan from Bajaj Housing Finance Limited

Better to apply for PMAY yojana you get benifits from this Welcome to Bajaj finserv,As per bangalore natives a most trust worthy and rate guarantee facility company "Bajaj finserv"(Bajaj housing finance limited) 1.He gives loans against property ,

Tax benefit on home loan under Section 24 Under Section 24 of the Act, tax benefit on home-loan payment of interest is possible as a deduction. According to the Section, interest paid on the home loan is deducted from the house property income where the loan is taken for reconstruction, repair, purchase or construction of a residential property.

Tax benefit on repayment of principal. As per the provisions of Section 80C, you can claim up to Rs 1.5 lakhs for repayment of housing loan taken from specified institutions, including cost of registration and stamp duty of a residential house.

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On top of this, buying a second home can also help you get a home loan tax benefit. Buying a second home comes with its own set of financial benefits and thereby making it a rewarding experience.

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You can claim for tax deduction under Section 24(b) only for the interest paid. The friend will have to provide you with a certificate and will be liable to pay tax on the interest earned from the loan. Can I claim tax benefit on two home loans? generally, tax benefits can be availed only on the house claimed as self-occupied.

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How many property you can claim tax benefits for home loan? tax benefits for under construction property. Taxation in case you have more than one house property. question answered by Balwant Jain.

To claim the tax benefits, the house property must be bought by the individuals in their joint names. You need to be a co-owner of the house property as well as co-borrower for the home loan, to claim the tax benefits related to home loan. I hope that this answer satisfies your requirement.