I have taken one under construction flat in rs. 40 lacks as Joint account with wife and paid all money by my bank account. rest of 80% loan money will be paid by bank in next 2 years
So, how , can we save tax from 2nd flat , as I have already 1 flat leaving in him and paying home loan of Rs. 20,000.
Thanks In advance.
If poss, plz call @<..number clipped as per privacy guidelines..>

Admin’s Response:

Under the provisions of Section 24(b) of the Income Tax Act, you can avail deduction under the head income from house property for the second flat as well.