Multiple home loans and HRA claim together

POSTED BY vikasguptajp ON September 4, 2012 9:38 am ONE COMMENT

Hello Sir,

I have two flats one in Jaipur and another in Bangalore. I have given both on rent and I am currently staying in a rental accomodation in Bangalore. I am paying home loan installment for both of them. I want to know if I can claim HRA and income tax benifits on both the properties? Which one should I consider as the first property as I am not staying in both of them. For Bangalore property Home loan interest is 3.0 lacs PA, rent is 2 lacs PA and for Jaipur flat it is 1.4 lacs PA, rent is 54000 PA.

I am declairing both the rents received from the above properties.

Thanks and regards, Vikash

One reply on this article “Multiple home loans and HRA claim together”

  1. Dear Vikash, you can claim HRA for your actual rented accommodation in Banglore. At the same time, you may claim Home Loan benefit for both houses also after declaring rental income.

    To get an idea how to calculate rental income & tax benefit on home loan, please read some prev. replies on the forum.

    Thanks

    Ashal

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