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 … WebAug 29, 2024 · 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 …
Can we Claim HRA and Home Loan - bajajfinservmarkets.in
WebJun 18, 2024 · Deduction allowed u/s 80GG: The House Rent deduction is minimum of the below 3 numbers: Rs. 5,000 per month [increased from Rs 2,000 to Rs 5,000 in Budget 2016] 25% of annual income. (Rent Paid – 10% of Annual Income) Here Annual income refers to. Gross Total Income. WebMar 21, 2024 · Whether you have one home loan or more, the deduction allowable under Section 80 C for repayment of home loan is restricted to Rs. 1.50 lakh together with various other eligible items. (REUTERS ... tall cowgirl boots for kids
Claim Tax Benefit on HRA as well as Tax Deduction …
WebJul 30, 2013 · The two are not interconnected to each other. HRA is dealt with in section 10 (13A) Rule 2A while home loans are entitled for tax benefits under section 80C (tax benefit on principal repayment ... WebYou can claim both HRA income tax exemption and the home loan tax deductions on principal and interest amount if you meet the eligibility requirements. Moreo... You can … 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 ... tall cowboy boots womens black