Hra rebate and interest paid on housing loan

This query is : Resolved

rajesh (Querist)
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12 April 2012 I am working in a Limited company in Delhi and residence is in Rented premises. My self occupied residential property is in Noida on which i am running Home loan. Can i claim both HRA rebate and Interest paid on Housing loan under income tax.

Tushar Desai

Tushar Desai (Expert)
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12 April 2012 Yes, you can claim both the benefits under the Act. However, you need to show the minimum Rental income on your Noida property.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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13 April 2012 yes you can,

for HRA exemption you need go through the calculation and also give your employer a copy of last rent receipt

for HP Loan you have to submit Certificate of Bank which bifurcate Principle and interest
principle amount gone to 80C (max. upto 1 lacs )
interest amount u/s 24(b) max upto 1.50 lacs

by this you can save your IT.

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