The Commerce Journal,Business and Local Businesses
*The Commerce Journal>>>India Taxes

Can I claim exemption on the HRA as well as the interest paid on housing loans at the same time?


Can I claim exemption on the HRA as well as the interest paid on housing loans at the same time?

If you own the house on your/spouse name, living in the same house too, may not relax double tax exemption.
May be possible, if you are residing else where. and produce rent receipt.
Still you will be under scrutiny by IT people - consult your tax consultant, hardly matter of Rs. 150/-.

you can claim exemption from house rent allowance in the form of rent paid in case you live at a place different from the situation of the houseproperty for which you are claiming deductions for interest on housing loan.
the condition is that you will have to satisy the incometax department that you are staying at another place for the purpose of your employment

yes, you can.

Tags
  United States Taxes   United Kingdom Taxes   Spain Taxes   Singapore Taxes   Mexico Taxes   Ireland Taxes   India Taxes   Germany Taxes   Canada Taxes   Australia Taxes   Small Business
Related information
  • How to compute Income on house property for my let out/rented property which is purchased through hous?

    Income from House property: (Model Calculation) 1. Rent received Rs.10,000 pm x 12months= Rs.1,20,000 2. Less Municipal Tax paid = Rs. 20,000 3. Balance amount (Rs....

  • I had been working in a bank for 25 years,now i want work sitting at home for 2 to 3 hours per day?

    First things first: Are you a retired banker? or thinking of VRS? Your educational background? Where are you staying? Will you be comfortable with PR or Marketing work? Sorry to ask so many qu...

  • How to calculate NRI status?

    To be on safe side, please leave India on 11th Dec.07. To be on safe side I am calculating the day you landed 14th June and the day you are leaving 11th Dec. is also taken as your stay in India for...

  • I am doing a online business and want to save tax on it?

    You are working in India. You are an NRI. But it seems you was a NRI before. OK? When you are in India and earning in India, you have to pay tax to Indian Income Tax department. You have to sh...

  • Under which section service tax for the contractor is come?

    194 C

    ...
  • What are the benefits of tax heavens?

    No income tax......... More private companies and foreign companies comes.........so high employment, good infrastructure, good purchasing power, etc.

    ...
  • I'm Individula IT holder?

    yes. assuming 12 emi are paid thru you in this financial year. claim 4000*12 = 48000 in 80c whereas 7500*12 = 90000 as negative income from house property . overall total 48k+90k = 138000...

  • I Lost my PAN card and i don't know what is it's number?

    Singhvi's answer is 100% correct. Actually I wanted to answer the same matter. In case if you fail to obtain your PAN number in this way, then try the following methods. In addition, try ...

  •  

    Commerce Categories--Copyright/IP Policy--Contact Webmaster