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Intreest on home loan rebate

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 February 2013 WHETHER REBATE OF INTREST ON HOME LOAN AND HRA REBATE BOTH CAN BE TAKEN SIMULATANEOUSLY RESIDING ON RENT IN SAME CITY FOR INCOME TAX PURPOSE .

21 February 2013 Both can be claimed.
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It depends upon the place where the house is located- so as to claim it as self occupied by virtue of Section 23(2)(b).
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If the house is at such location in the city , from where it is more difficult for the assessee to attend his employment /Office, in compare to the rented house, he may take the Net Annual Value of own house at NIL. Provided he is not getting any other benefit from the house.
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