HRA, Interest on housing loan, repayment of principal
This query is : Resolved
01 March 2011
Good evening all,
Q.1 Me and my wife both are working getting HRA, we both are paying 50% of rent each in individual name can we both claim a seprate exemption?
Q2 last year we both have taken loan for const. of house of which 50% of installment paid through my wife and my account can we both claim deduction under house property of Rs. 150000 each and can we both claim repayment of principal amount of loan under section 80C?
Q.1 Me and my wife both are working getting HRA, we both are paying 50% of rent each in individual name can we both claim a seprate exemption?
Q2 last year we both have taken loan for const. of house of which 50% of installment paid through my wife and my account can we both claim deduction under house property of Rs. 150000 each and can we both claim repayment of principal amount of loan under section 80C?
02 March 2011
Yes Anurag,
Both of you can claim the HRA.
Further both of you can claim principal repayment & interest on house loan subject to maximum limit. But these deductions are available only after possession.
Both of you can claim the HRA.
Further both of you can claim principal repayment & interest on house loan subject to maximum limit. But these deductions are available only after possession.
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