Home Loan benefits & HRA
This query is : Resolved
06 October 2009
Can i have a home loan to buy a home in my native place at gujarat & at the same time enjoying the benefit of claiming HRA for staying on rent in Mumbai.
Since there is no such provision in the Income Tax Act denying the benefit of both the above things.
Advise me on the basis of practical experience you have
Since there is no such provision in the Income Tax Act denying the benefit of both the above things.
Advise me on the basis of practical experience you have
06 October 2009
yes you can avail the benefit of both interset and HRA as both places are in different city.
06 October 2009
Agree with experts. You can claim both at a time provided the self occupied property & rented home should be at reasonable distance. Now reasonable distance means house should be situated in different municipal corporation or there should be at least 70KM distance between two.
06 October 2009
Yes. Please check the following link which provides detailed discussion on the subject
http://www.apnaloan.com/home-loan-india/taxdeductionbenefitsforhlhra.html
http://www.apnaloan.com/home-loan-india/taxdeductionbenefitsforhlhra.html
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