Is it possible to take tax benefit of both HRA exemption on X city house and Home loan benefit on Y city house ?

POSTED BY Vimal Agrawal ON June 8, 2014 5:30 pm NO COMMENTS

I am a salaried employee in X city and leaving in rental house in the same city. In the FYI 2011-12 have taken home loan and built up a house in my home town (Say in Y city) which is 50 km. far from X city.

Rent I am paying in X city is 20k and home loan for Y city house is 10k (5k Interest + 5k Principal) where my parents are leaving now.

Is it possible to take tax benefit of both HRA exemption on X city house and Home loan benefit on Y city house ?

Also I am planning to buy another house in X city where currently I am leaving in rented house and will continue in rented house while planning to rent out both of my house which is in X & Y city  and for both I am having home loan.

In this case, how can I get maximum tax benefit?

Please advise.

Thanks in advance.

Regards,

Vimal

 

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