Can we claim HRA rebate and tax exemption on Interest and Principle Amount together ?

POSTED BY amit gautam ON December 3, 2013 6:10 pm ONE COMMENT

sir,
I and my wife both are government servant in delhi and we have a  property(flat in delhi) which is registered in the name of both of us. We have a home loan in which we both are co-applicant and home loan’s installment   debited from my wife’s bank account .Our flat is on rent and we live on rent in different area in delhi.

So the question is :-

1.Can we claim both HRA rebate  and INTEREST,PRINCIPAL  rebate  in income tax calculation, if yes than how can we calculate  and which part of  INTEREST & PRINCIPAL  calculate in our income tax calculation separately.
2.If our flat is not on the rent than what will be the calculation.

3.Our home loan is 3392000/-and it is our first home loan ,can we claim 1 lac extra rebate if yes than how it calculate.

thanks

One reply on this article “Can we claim HRA rebate and tax exemption on Interest and Principle Amount together ?”

  1. ashalanshu says:

    Dear Amit, Yes both of you can claim HRA as well as home loan benefit cocurrently. For more details, please check here in the forum for past similar discussions or mnail to my personal ID as it ‘ll require some personal data to be shared by you and to protect your privacy, I’m not asking here in this forum.

    thanks

    Ashal

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