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Obviously, you can combine both tax benefits in the same year to significantly lower your taxable income. Additionally, if you want to claim both, you must have all the supporting documentation, such as a sales deed and a completion certificate, to support your claim in the event that it is questioned.
Even if both properties are located in the same city, there are no limitations on claiming HRA and interest on a home loan at the same time. There should be sufficient justification for you to vacate the home that you purchased. These claims are frequently carefully examined by Income Tax officers. If they are not convinced, they may reject a portion of the claim, particularly if the sum is significantly higher.
Pay your rent online and get an instant receipt to claim HRA Read More: How to claim HRA in an income tax return? Can you claim HRA and a home loan both?Authors Of The Question
Process of claiming HRA & Home loan for tax deduction
Samuel
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2023-03-24T13:52:42+00:00 2023-04-17T01:51:58+00:00Comment
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