Better to declare Home Loan or Rent to save tax, if you shifted to own house in the middle of the year

POSTED BY Harsh ON January 19, 2013 1:45 am COMMENTS (3)

I shifted to my own house in the middle of the year. Earlier i was staying in rented accomodation. My employer does allow to split this and declare together. Can some one direct me to a calculator which can help me in deciding which one is saving more tax for me.

 

Many Thanks

3 replies on this article “Better to declare Home Loan or Rent to save tax, if you shifted to own house in the middle of the year”

  1. Dear Harsh, please feel free to visit here & ask for your queries in the forum again & again.

    Thanks

    Ashal

  2. Harsh says:

    Many Thanks Ashal, I got it researched after your reply and now got the way how to include both. You know document processors at office dont want to take the hassle of explaining it to you. Though my bad.
    Thanks again.

  3. Dear Harsh, You can claim both benefits. Interestingly the Rental benefit ‘ll be available for the period till you stayed on rent, where as Home loan benefit ‘ll be available for full year.

    So where is the need of calculation to select between 2?

    Thanks

    Ashal

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