Hi
Want to know if one can claim home loan tax benefit for a property puchased on loan & for which EMI is being paid and paralelly also claim HRA benefit, i.e provided HRA is shown for a different address than the property address. What is the practice & what do auditors say?
Regards
From India, Delhi
Want to know if one can claim home loan tax benefit for a property puchased on loan & for which EMI is being paid and paralelly also claim HRA benefit, i.e provided HRA is shown for a different address than the property address. What is the practice & what do auditors say?
Regards
From India, Delhi
Hi,
You can claim both interest on interest on home loan as well HRA even if you are in the same city but you should be in a position to justify you are staying in a rented house due to its location far from your/spouse/childeren regular place of work.
You can claim HRA from Income under the head salaries and the interest under the head Income from House Property.
Hope I have clarified your doubt.
All the Best.
Murali.
From India, Hyderabad
3You can claim both interest on interest on home loan as well HRA even if you are in the same city but you should be in a position to justify you are staying in a rented house due to its location far from your/spouse/childeren regular place of work.
You can claim HRA from Income under the head salaries and the interest under the head Income from House Property.
Hope I have clarified your doubt.
All the Best.
Murali.
From India, Hyderabad
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