Home/Taxes/I own a 1bhk in jp nagar 7th phase and have rented it out. I stay in CV Raman Nagar ,Bangalore on rent. Can I claim for both HRA and interest on Home Loans? Or am I being greedy?
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I own a 1bhk in jp nagar 7th phase and have rented it out. I stay in CV Raman Nagar ,Bangalore on rent. Can I claim for both HRA and interest on Home Loans? Or am I being greedy?
There is no such law that you cannot claim for both HRA and interest on home loans. But it will be difficult to justify in all cases and hence people avoid it.
However, you can still claim HRA and interest on a housing loan but both will be claimed under different sections. Also, you will need to add your rental income as another source of income and pay tax on that rental income.
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I own a 1bhk in jp nagar 7th phase and have rented it out. I stay in CV Raman Nagar ,Bangalore on rent. Can I claim for both HRA and interest on Home Loans? Or am I being greedy?
Adithya
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September 28, 2020
2020-09-28T18:28:48+00:00 2020-12-15T13:24:08+00:00Comment
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