Dear Sir,
I have my own flat near my place of work which is located at a distant place away from most of the colleges. I have rented a flat in the city to facilitate my children’s education. My own flat is lying vacant as we use it in weekends and holidays. I have a loan on my own flat and claim tax benefits on the same.
I pay substantial rent in the city, my question is in this scenario can I claim both i.e. HRA exemption on rented flat and loan benefits on owned flat. Please advice how to claim HRA exemption on rented flat as it outweighs the loan benefits on owned flat .
Thanking you in anticipation.
SK