hra and home loan benefit

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  1. suprabha

    suprabha New Member

    I read a article here
    according to that
    1. If you are living in a rented premise and are taking Tax Benefit of HRA Allowance, even then you can claim Tax benefit on home loan under Section 24, Section 80EE & Section 80C.
    we have bought house of value 61 lakh but as its far away we have not occupied it and staying in rented house of 15k / month
    can we utilize interest paid every year of 4lac under sec 24? loan amount is 48 lakh with 25 year tenure from sep 2015
     
  2. Amith S

    Amith S New Member

    Yes, you can claim Interest paid on housing loan, but you will have to declare the income from the let out property.

    After reducing the let out property income excess interest paid will be exempted from tax.
     
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