Income Tax Computatio

Tax queries 195 views 7 replies
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Analyst
25 Points Joined July 2019

I would like to know if I am paying rent and also I have taken home loan. Will I e eligible for both deductions under HRA and section 24 or 80C.  Please help o computation.

Thanks,

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On 17 April 2022 at 13:27 Report
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28018 Points Joined May 2017
No both are not available
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On 17 April 2022 at 13:33
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Analyst
25 Points Joined July 2019

Thanks for replying.

I have a few more doubts. Please refer to queries below: 

1. In order to avail deduction of 1.5L under section 80C,is the stamp duty included in max. deduction 

2. To avail full deduction of 2L under section 24, what are the requirements

3. Can you help me with planning my home loan, so that I could avail max. of tax deduction and min interest payment

Thanks

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On 17 April 2022 at 14:17
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CFO- at NHTF
58280 Points Joined August 2012
If you are staying in different city from your own house then you may claim HRA and housing loan both
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On 17 April 2022 at 16:11
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28018 Points Joined May 2017
Home loan Sec 24, SEC 80c and a bunch of offers from all banks.
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On 18 April 2022 at 06:12
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CFO- at NHTF
58280 Points Joined August 2012
Do you own the house ?
Is it occupied or under construction ?
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On 18 April 2022 at 07:44
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28018 Points Joined May 2017
Now this question is pertinent.
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On 22 April 2022 at 07:18
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CFO- at NHTF
58280 Points Joined August 2012
1. Stamp duty will be included in 1.5lacs
2. 2lacs deduction can be claimed if it is paid during FY for the property purchased or constructed
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On 22 April 2022 at 07:26


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