Income tax rules

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 November 2013 Dear Sir,

I work for a Multinational company. I took housing loan in my city. But that house was left vacant as it is far from the city. I am not staying in it.neither I gave it for rent.

I am staying in another house which is 15 kilometers(from above house). Here I am paying rent.

Can I claim both housing loan and House rent paid for income tax exemptions (even though my rented house and my purchased house are in same city)?

what does the rule say ?

Can some one guide me on this completely. I want to save my tax (with my housing loan as well for the rent I am paying).

Nikhil Kaushik

Nikhil Kaushik (Expert)
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15 November 2013 yes. you can claim both. There is no restriction on claiming deduction under 80C and 24B and HRA deduction simultaneously.

Querist : Anonymous

Querist : Anonymous (Querist)

15 November 2013 Dear Sir,

so as per you I can claim income tax exemption for the housing loan I have taken (for purchase of new house at outskirts) and for the rent I am paying for my house in city same time with out any problem.

Sir, can you tell me if rule demands any minimum distance in terms of kilometers to be there in above mentioned 2 houses ?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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15 November 2013 as I said before, you can claim both. There is no restriction on the basis of distance. The only condition to claim HRA is that the house you should not be owning the house against which you are paying the rent.

thats all.

Querist : Anonymous

Querist : Anonymous (Querist)

05 December 2013 Dear Sir, Sorry for troubling you all experts. I am bit tensed because of my finance team. I am posting my question one more time. Please help me with with the right answer and also supporting data completely.

I work for a multinational company. I took housing loan in my city.But that house was left vacant as it is far from my office. I am not staying in it. niether I gave it for rent.

I am staying in another house which is 15 kilometers(from above house). Here I am paying rent.

Can I claim both housing loan and house rent paid for income tax exemptions(even though my rented house and my purchased houses are in same city) ?

can some one guid me on this completely. I want to save my tax (with my housing loan as well as for rent I am paying)