17 December 2013
I want to take a home loan for purchasing a flat. what will be the tax benefit available to me? I am a salaried person and getting HRA will my hra be taxable? what will be the option available to me so that I can claim both.
18 December 2013
Benefit of Purchasing Property ; 1. Interest deduction upto 1,50,000Rs. if used for self residence.(Refer Section-24) 2. Repayment deduction upto 1,00,000Rs. (Section-80C) 3. HRA will continued to be exempted, least of following ;- a) HRA received b) Rent paid less 10% of salary c) 50% of salary, for metro cities.
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