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. Ashal Jauhari says:
    August 12, 2013 at 3:44 pm

    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

    Reply
  2. Mohit Pandey says:
    August 10, 2013 at 7:02 pm

    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

    Reply

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