Tax on housing loan interest for rented property

Hi,

I have taken a home loan to buy a flat in Bangalore where I work & live. Currently I have occupied the said property, hence as per self-occupancy I'm eligible for upto Rs.1,50,000 deduction on my income towards the interest charges.

However, If I rent out that property, I can avail tax dedcution for full amount on the interest part.

My query is,

1. Can I let out the property to my mother? and there by claim tax deduction for full interest?

2. Can I stay along with my mother on the same property, but don't claim HRA benefits?

 

Thanks in advance for your valuable help!

 

Regards,

Rajesh

Replies (1)

I fear you cannot rent out the property to your mother and stay with her.

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