I own a house and have bought another house, doubts regarding tax treatment for IT deduction from my salary?



Iam staying in the first house and have bought another new (second) house on loan (spouse is co-applicant, but not co-owner).What are my tax implications regarding HRA,home loan EMI when filling for IT returns.Incidentally my spouse is also salaried in my same office. PLEASE REPLY.
The first house has no home loan, its only that Iam staying in it and purchased the second home on loan.

I own a house and have bought another house, doubts regarding tax treatment for IT deduction from my salary?
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2 Replies to “I own a house and have bought another house, doubts regarding tax treatment for IT deduction from my salary?”


  1. Any 1 house can be considered as self occupied & the other rented (even if empty).

    The 2nd rented house will generate ‘income from hp’.

    Housing loan tax benefits can be claimed for both houses, but only by the owner. (Co-borrower cannot if she is not co-owner). Interest benefit u/s 24(b) on 1st house is Rs 1.5 L and on 2nd house no limit.

    Principal repayment benefit u/s 80C can be claimed for both houses.

    HMT





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