Incometax benefits NRI home loan

Sethuraman (Technical) (59 Points)

01 April 2011  

Hi Sir,

Could one of yourself  advise me on whether any tax benefits available to NRI on the first home loan taken                          from financial institution on the following points:

1) on principle / interest payment made on home loan and                                                                                                             2) on rental receipts received on renting out the property in India                                                                                                      3) Do I need to disclose the rental receipts recd as income in my e-filing.

Best Wishes - Sethuraman