Multiple housing loan dealing in income tax
This query is : Resolved
21 July 2018
Dear Sir/Mam,
I am paying two home loans. One of the property is let out. Another property taken possession during Feb'18. And I am staying in a rented house.
Whether I can take income tax exemption for two housing loan both interest and principal after deducting rent received and also claim HRA exemption
I am paying two home loans. One of the property is let out. Another property taken possession during Feb'18. And I am staying in a rented house.
Whether I can take income tax exemption for two housing loan both interest and principal after deducting rent received and also claim HRA exemption
22 July 2018
1. Let out property.
Interest and principal ( subject to ceiling u/s 80C) can be claimed as deduction.
2. Feb 18 property.
Interest of feb and march plus 1/5th of interest before feb 1 can be claimed..
Principal can be claimed subject to ceiling in 80C.
3. HRA exemption can be claimed subject to section 10(13A) r.a.w rule 2A.
Interest and principal ( subject to ceiling u/s 80C) can be claimed as deduction.
2. Feb 18 property.
Interest of feb and march plus 1/5th of interest before feb 1 can be claimed..
Principal can be claimed subject to ceiling in 80C.
3. HRA exemption can be claimed subject to section 10(13A) r.a.w rule 2A.
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