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Treatment of interest & principal paid on 2 loans for 1 house property

(Querist) 07 November 2013 This query is : Resolved 
If an Individual has two loans against one house property, what will be the treatment of such interest and principal repaid for income tax purposes?

Will deduction of interest and principal repaid be allowed for both the loans?

Please reply.
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BAALASUBRAMANNYAMM (Expert) 07 November 2013
For filing of Income Tax Return, your payments, what ever made towards principal and interest on any number of loans, can be taken for availing tax benefit. You can be exempted from the said payments, from tax payment.
Sudhir Kumar, Advocate (Expert) 07 November 2013
nothing more to add
Sudhir Kumar, Advocate (Expert) 07 November 2013
repeated

http://www.lawyersclubindia.com/experts/Treatment-of-interest-principal-paid-on-2-loans-for-1-house-property-433281.asp
Sudhir Kumar, Advocate (Expert) 07 November 2013
repeated

http://www.lawyersclubindia.com/experts/Treatment-of-interest-principal-paid-on-2-loans-for-1-house-property-433281.asp
C..a......STUDENT (Querist) 08 November 2013
Thank You Baala Sir and Sudhir Sir.
R.K Nanda (Expert) 08 November 2013
consult tax lawyer.
Rajendra K Goyal (Expert) 08 November 2013
Agree with expert baala subrahmanyam, nothing more to add.
C..a......STUDENT (Querist) 08 November 2013
Thank You Mr. Rajendra
Rajendra K Goyal (Expert) 08 November 2013
You are welcome.
R.K Nanda (Expert) 08 November 2013
nothing more to add.

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