Kindly clarify the following.

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kamala (Querist)
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24 April 2014 Kindly clarify the following.

I am staying in my own house (parental property and no loan availed on this). I have bought a new flat and I have let it out for rent. What is the maximum amount of tax benefit that I could take on the loan/interest-paid availed in this case?

I am staying in a rented place close to my new flat which I have bought recently and let it out for rent. What is the maximum amount of tax benefit that I could take on the loan/interest-paid availed in this case? Can I claim HRA on this?

I am staying in my own house (parental property and no loan availed on this). I have bought a new flat and I have let it out for rent. My spouse is the joint owner of the new flat. My spouse however is not working and will not claim tax exemption. What is the maximum amount of tax benefit that I could take on the loan/interest-paid availed in this case?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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24 April 2014 1. if there is no loan, there is no deduction available.

2. HRA claim shall be allowed.

3. If there is a loan and the house is let out, you can claim whole of the interest paid under 24b and principal deduction under 80c. also check for deduction under 80ee is you are eligible.

kamala

kamala (Querist)
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24 April 2014 sir can you briefly explain this pls.

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