Multiple housing loan dealing in income tax

This query is : Resolved

MV Bhuvana (Querist)
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21 July 2018 Dear Sir/Mam,

I am paying two home loans. One of the property is let out. Another property taken possession during Feb'18. And I am staying in a rented house.

Whether I can take income tax exemption for two housing loan both interest and principal after deducting rent received and also claim HRA exemption

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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22 July 2018 1. Let out property.
Interest and principal ( subject to ceiling u/s 80C) can be claimed as deduction.

2. Feb 18 property.
Interest of feb and march plus 1/5th of interest before feb 1 can be claimed..
Principal can be claimed subject to ceiling in 80C.

3. HRA exemption can be claimed subject to section 10(13A) r.a.w rule 2A.