How to exempt from HRA and also Principal and Interest component of EMI on House Loan property

POSTED BY udayanem anem ON August 10, 2013 12:20 pm COMMENTS (2)

Hi Manish,

I am working on a Software Company in Hyderabad and i am staying in a rented house.

I have a home loan and property in Vizag(Visakhapatnam). And currently my parents are staying in that home, so no income from the home.

Where as i am paying the House EMIs.

So can you please tell me, can i get tax exemption from both HRA and House Loan?

Thanks in advance,

Uday

2 replies on this article “How to exempt from HRA and also Principal and Interest component of EMI on House Loan property”

  1. Dear Anem, no need to declare the house in Vizag on rent. You can claim both benefits i.e. HRA for Hyderabad rented residence & Vizag, home loan. In case of self occupied declaration of Vizag property, the maximum interest benefit ‘l be limited to 1.5L Rs.

    thanks

    Ashal

  2. Mohit Pandey says:

    Anem, You have to show the house as let out and can avail HRA and full exemption on interest paid on home loan. For more info please read :-

    http://www.financebandhu.com/2013/08/understanding-tax-benefit-on-home-loan_4.html

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