Tax benifit on Housing Loan India?
yes ,a person can avail both , if satisfies conditions of both provisions.
claiming exemption on hra foremost condition assessee should pay rent, 1 can claim exemption hra u/s 10[13a] of t act read rule 2a of t rule.if pay rent whole year , can claim exemption whole year. if have paid part of year , exemption.
deduction of interest on loan allowed in 3 case
tthe property given on rent.
property self occupied
property not self occupied on account of service/occupation, 1 can not live in house.
in case , have taken loan house or flat not given on rent , not self occupied reason , if reason not related occupation, per law , not deduction of interest of loan. exception.
if have self occupied house during year , paid , reason hra whole year, allowed exemption on hra interest month self occupied house.
i have bought house on housing loan. house bought let out . if paying rent in house staying claim both income tax benifit on housing loan i.e interest paid , principal amount , hra exemption on housing rent pay?
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