Sir, I have an existing home loan ...I have constructed my house and enjoying the benefits of Principle and Interest re-payment tax benefits..
To save my tax further I am planning to:
a)Construct further in the same plot and enhance my home loan there by I will get more tax benefits
OR
b)Buy a property far off from my existing residence (same city)
Query: 1)Which one do you advice to save my tax deductions? 2)If I chose 2nd option I am aware I cannot avail Principle Re-payment benefit but can avail Interest paid on the new property....so can I avail loan benefits on my 2nd property at the same time give it on rent? 3)If I take the 2nd home on my wife`s name....can I take loan on it?what befefits can I avail from 2nd loan in this case?
