House rent/home loan benifit
This query is : Resolved
26 April 2012
Is there any way to take the benefit of home loan and hour rent exception? If yes please provide the detailed information.
Thanks
Thanks
Mihir Doshi
(Expert)
26 April 2012
Both can not be claimed simultaneously.
It can be claimed in the following situation only:
House is purchased in the city other than the city where you do your job currently, so HRA is also claimed as well home loan interest and principal can also be claimed.
Thanks
Mihir Doshi
It can be claimed in the following situation only:
House is purchased in the city other than the city where you do your job currently, so HRA is also claimed as well home loan interest and principal can also be claimed.
Thanks
Mihir Doshi
CA Kishore Tallam
(Expert)
26 April 2012
Agree with expert. In that case, the HP will be taxed as SO. However, u can show a nominal amount of rental income and if ur interest is more than 1.5 lacs, then this will be useful
Murtaza I Bhagat
(Expert)
26 April 2012
yes agree with both experts
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