How & when you get rebate of h loan & rent both

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This query is : Resolved

abhilash (Querist)

13 October 2011 If some one has taken property at mira road & taken Housing loan. he is staying on rent at andheri can he claim both?

Pl provide if any circular for clarification

Abhilash

CA SUMiT PATWARi

CA SUMiT PATWARi (Expert)

13 October 2011 Yes he can claim both.

Tushar Desai

Tushar Desai (Expert)

13 October 2011 Case 1:

if the "Loan House" is within 30 km radius from the work location, then u can't claim both the benefits directly.

However, indirectly you can show that you are staying on rent and for your convenience you better stay in a rented property near yr work area, and given your "Loan House" on rent to Mr XYZ on monthly rent of Rs.1000/-. So, You will show 8000 rent paid per month, 1000 rent received per month + your House loan benefits.

Case 2 :

If your Loan Property is located at more than 30 km radius, then you can directly claim both the benefits.

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