16 February 2012
Hi, I have a house in greater noida on which I have taken home loan. I have taken the possesion of the home. But as, It is far away >40 kms from my office noida. This home is vacant and no rental income.
I am staying in a rented apartment in noida.
queries: can I claim both HRA and Home Loan interest benefits? in doing so, do I need to show any notional rental income? and how do one calculate notional rental income
16 February 2012
Yes You can claim both of these incentives.
In this case your own house in greater Noida remains unoccupied which shall be deemeed to be treated as self-occupied and Net Annual Value will be treated as Nil if You does not occupy the house because of your business or profession or employement elswhere. In case You have let out your house in Greater noida provisions of let out shall apply accordingly.
16 February 2012
is there any rule or consideration that defines what is away from office? like rented house and owned house should not be in same distt. or any minimum distance?
CAclubindia
