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drmanasksinha
24-06-2010, 06:43 PM
I would like to post a question relating Income Tax: My question is, If anyone purchases a Flat on taking Bank Loan and availed Income Tax benefits and then on clearing the loan amount purchases another flat in the same city on taking another Bank Loan, whether he is eligible for the IT benefits on house loan...Please quote the rule

RKPATHAK
24-06-2010, 09:32 PM
Repayment of loan (both principal and intrest) qualify income tax benefit(.) it does not matter, how many times you purchased flat and sold

prasannakumar
25-06-2010, 08:43 PM
Sir,
While the interest on the loan is fully exempted up to certain limit, the principal portion under Sec. 80C

Regards
Prasanna Kumar

ramanrao60
26-06-2010, 11:07 AM
the facility to avail interest paid on hb loan and principal repaid is applicable to and limited to only one self occupied house property

the other cases you have to show rent received as income from house property and show certain deductible expenses like property tax etc and pay tax on net rental income

ramanrao60
20-07-2010, 10:11 AM
any tips reg filing of it returns?
can we please get a link to forms and can we e file the returns if so what is the link?

tvenkatam
23-07-2010, 09:53 PM
any tips reg filing of it returns?
can we please get a link to forms and can we e file the returns if so what is the link?

Dear friend,

e-filing of income tax returns in appropriate forms of return is possible through the following website.
https://incometaxindiaefiling.gov.in/portal/index.jsp

rakeshmehra30
23-07-2010, 11:32 PM
yes u can avail it benefit again .