hra and housing loan interest
This query is : Resolved
12 May 2011
an exemption of rs.1.50 lakhs was given to our employee who stays in a rent appt. at hyderabad. then he has an home loan (a house being constructed in his native place GOA) can he get additional benefit of this housing loan either in principal or interest. please guide us.
12 May 2011
YES HE CAN GET BOTH DEDUCTION.
12 May 2011
FOR DETAILS
VISIT
https://www.caclubindia.com/articles/hra-housing-loan-interest-deduction-simultaneously-5955.asp
VISIT
https://www.caclubindia.com/articles/hra-housing-loan-interest-deduction-simultaneously-5955.asp
12 May 2011
dear sir,
hra is given by company is Rs.3.69 lakhs and interest on principal is Rs.1.50 lakhs so total 5.19 lakhs is eligible to him ? if not what is the max limit for exemption.
hra is given by company is Rs.3.69 lakhs and interest on principal is Rs.1.50 lakhs so total 5.19 lakhs is eligible to him ? if not what is the max limit for exemption.
12 May 2011
FOR HRA YOU HAVE TO CALCULATE THE MAXIMUM LIMIT
AND FOR INTEREST RS. 150000 WILL BE ALLOWABLE.
AND FOR INTEREST RS. 150000 WILL BE ALLOWABLE.
12 May 2011
TO CALCULATE LIMIT OF HRA
VISIT
http://www.indiataxes.com/HRA_Calculator.htm
VISIT
http://www.indiataxes.com/HRA_Calculator.htm
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