can we take the exemption of HRA & Exemption of Interest on house loan together.
I have purchased house in the name of wife name and loan is in the name of myself and according paying interest on loan. On the other hand, i am paying rent to my wife.
15 September 2018
1. Since you are not the owner of the house, you are not entitled for housing loan interest deduction though loan is in your name and repayment is made by you. Pl see section 24(b).
2. Literally, you are eligible for HRA exemption. Pl see section 10(13A) . But taking commercial advantage out of marital relation may invite tax litigation.
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