The Income Tax Department deducts HRA and interest paid on the home loan. So, you might be wondering if we can claim HRA and home loan. Well, I have good news for you regarding this question! You can claim HRA and home interest at the same in certain situations. I will tell you the key points to claim both a home loan and HRA.
Can HRA and home loan be claimed together?
- To claim both the HRA and home loan you need to rent a property in a different area and buy a property in another different area.
- You have to provide proper evidence as to why you are renting a property in one city while paying home loans for a property located in another city.
- It will be a win-win situation for you if you are renting a place in a city located near your office while you have a self-occupied home in a different city.
- You cannot claim HRA and home loan interest if you are living in the same city.
- The HRA he gets is Rs. 15,000.
- 40% of the basic as he has relocated in Bangalore that is Rs. 16,000.
- If we subtract the rent he is paying from 10% of basic we get- Rs. 10,000- Rs. 4,000= Rs. 6,000.
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Can we claim HRA and home loan?
Anonymous
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2021-09-24T16:21:18+00:00 2021-09-28T14:15:35+00:00Comment
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