Some more Q/A on Home Loan

Q - Already repaying a housing loan. Can you take one more housing loan. With this would there be any tax benefit?

A - You can claim income tax deduction benefits from both the housing loans. To get a detailed response and an answer to similar queries, click on the link below:

http://www.apnaloan.com/index.php?option=com_content&task=vie w&id=125&Itemid=2&limit=1&limitstart=3 (Please refer to question number 3 (a).)

Q - I have purchased a flat in Pune in 1995 & taken loan from HDFC for 15 year tenure.I am paying EMI & availing Tax Rebate. I have purchased another flat in Mumbai & taken a loan from HDFC & paying PRE-EMI to HDFC. Wheather I will be able to avail Income Tax Exemption on both the houses against EMI & PRE-EMI.

A - You can claim tax exemptions for both, the EMI and the pre-EMI. For a detailed response on claiming tax deduction benefits on EMI; and an answer to a similar query, click on the link below:

http://www.apnaloan.com/index.php?option=com_content&task=vie w&id=125&Itemid=2&limit=1&limitstart=3 (Please refer to question number 3 (a).)

With regards to claiming tax deduction benefits on Pre-EMI, click on the link below:

http://www.apnaloan.com/index.php?option=com_content&task=vie w&id=125&Itemid=2&limit=1&limitstart=5 (Please refer to question number 7 (a).)

Also to calculate your EMIs you can avail the benefit of the following calculators:

http://www.apnaloan.com/loan-advice-india/calculator.html