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Most of us took home Loan for purchasing our dream house and it is a very good tax saving instrument. There is a lot of confusion about the tax benefit on interest on home loan among people and in companies also.
I have experience in my previous and current company (with old payroll vendor) that they allow tax benefit only on one home loan and up to 1.5 lacks. So if you have more amount for tax benefit (i.e. Interest on a second home loan etc.) you have to file return to get back the paid tax.
This post first appeared on Finance Bandhu, please read the originial post: here