Income Tax exemption on two housing loan EMIs and separate HRA

POSTED BY veda prakash nidumolu ON April 12, 2013 1:02 pm ONE COMMENT

Hello All 

I have a query regarding two HLs and separate HRA.

I have a flat in hyderabad and is rented out. I pay an EMI of 28000 on it and earn a rent of 12000 on it.

I presently stay in Bangalore.

I recently bought a flat in Bangalore and I do not stay in that flat as it is far away from my workplace. So, I rented it out. I pay an EMI of 33000 and earn a rent of 13000 on it.

 

I stay at a place closer to my work in a rented accommodation. I pay a rent of 12000 for it.

Now can I list both my flats(one in hyd and one in bnglr) under the “Income from House Property” section and calculate the (income- tax paid- emi paid) income/loss from these properties and also list my rent paid for the rented premises under HRA.

Thanks in advance,

Prakash

One reply on this article “Income Tax exemption on two housing loan EMIs and separate HRA”

  1. dear Prakash, yes is the answer.

    Please check the below link which is almost similar to your query. The only differece lies in the fact that your both houses are on rent.

    http://localhost/jagoforum2/2-houses-in-different-cities-tax-benefit/7508/

    Thanks

    Ashal

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