WebAnswer (1 of 6): Greetings!!! Section 10(13A) of Act deals with HRA and whereas 24b & 80C deal with Housing Loan Payment. Acc to 10(13A) allowance received by an Assessee is exempt from tax subject to fulfillment of conditions. 24B Interest on House Property can be claimed under this Section. ... WebJul 9, 2024 · Both these tax deductions are allowed only if the house one owns and the house one lives in are at different locations (Photo: iStock) One can claim HRA …
How to claim both HRA and home loan tax benefit together
WebFeb 5, 2024 · Claiming Both Tax Benefits Together Simply put, taxpayers cannot claim an HRA exemption if they own a house and claim a tax deduction on the home loan interest payments. However, if a … WebApr 4, 2024 · Yes. You can claim only the home loan interest deduction in case of under-construction property over five years in equal instalments starting from the year the construction is completed. You rent the house you have availed with a home … Can I Claim HRA and Deduction on Home Loan Interest? Yes, you may claim the … should gabapentin be taken with food in dogs
Can a tax payer claim both HRA and home loan benefits? - TaxGuru
WebApr 21, 2024 · How to claim HRA benefit by paying rent to your wife. iStock. 3 min read . Updated: 21 Apr 2024, 06:21 AM IST Keval Sonecha. The benefit can be claimed even if the husband is a co-applicant in the ... WebOct 18, 2024 · You can even own a house and rent another in the same city, and claim both HRA and home loan benefit. However, the two houses should be at least 35 kilometres … WebIn order to claim HRA component, the individual must be staying on rent. Also, there are different sections for interest on home loan deduction and HRA under the IT Act. Under Section 10 (13A), an individual can claim for the exemption of HRA. Deduction for the interest and home loan principal repayment can be claimed Section 24B and Section ... sastowers youtube