hra and housing loan interest

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venkata ramakanth (Querist)
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12 May 2011 an exemption of rs.1.50 lakhs was given to our employee who stays in a rent appt. at hyderabad. then he has an home loan (a house being constructed in his native place GOA) can he get additional benefit of this housing loan either in principal or interest. please guide us.

CA Sanat Pyne

CA Sanat Pyne (Expert)
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12 May 2011 YES HE CAN GET BOTH DEDUCTION.

CA Sanat Pyne

CA Sanat Pyne (Expert)
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12 May 2011 FOR DETAILS
VISIT
https://www.caclubindia.com/articles/hra-housing-loan-interest-deduction-simultaneously-5955.asp

venkata ramakanth

venkata ramakanth (Querist)
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12 May 2011 dear sir,

hra is given by company is Rs.3.69 lakhs and interest on principal is Rs.1.50 lakhs so total 5.19 lakhs is eligible to him ? if not what is the max limit for exemption.

CA Sanat Pyne

CA Sanat Pyne (Expert)
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12 May 2011 FOR HRA YOU HAVE TO CALCULATE THE MAXIMUM LIMIT

AND FOR INTEREST RS. 150000 WILL BE ALLOWABLE.

CA Sanat Pyne

CA Sanat Pyne (Expert)
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12 May 2011 TO CALCULATE LIMIT OF HRA

VISIT
https://www.indiataxes.com/HRA_Calculator.htm

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