Hra with home loan

This query is : Resolved

Guest

Guest (Querist)

16 April 2012 I am residing in New Delhi on rent.
I have purchased a ready to move in flat in NOIDA on loan. the property against which loan is taken is not let out.
My office is in Noida.
Under what sections would i be able to claim income tax exemption on HRA and Interest paid as EMI.

Pls. support. Its urgent.

Mihir Doshi

Mihir Doshi (Expert)
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16 April 2012 Dear, u r residing in the same city where you are currently working also.

You will not be eligible to claim the HRA and Loan interest simultaneosly.

Tushar Desai

Tushar Desai (Expert)
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16 April 2012 If you give your house in Noida on Rent, then you can claim both the benefits.

But, If you don't, then you have no reason to show like why you stay in Delhi on Rent even if you have a house near your work place.

So, if you want both the benefits, rent-out your house.

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