MANISH (Student) (82 Points)
15 January 2014one salaried person. who has near1.25lac p,m salary has doing job in vadodara and has rented house in vadodara ..company give HRA 27000PM ... he has own 2 houses one in jaipur and another in navsari ... both r on loan ..and both r given on rent ... from jaipur house he get 16000 rent and pay loan emi 8500 and from navsari house he get 22000 pm rent and paid home emi 30000 pm so how can we calculate his salary and income from house property
what is benificial way to calcualte it
@VaibhavJ
(Believe!! Live your dreams!)
(33516 Points)
Replied 15 January 2014
Hi
You can show both house as rented out & claim all Interest paid as deduction without cap of 1.50 lacs.
Also you can claim HRA for rent paid by you.
Thanks
Mihir
(Wealth Manager)
(5293 Points)
Replied 15 January 2014
Declare to your employer the rent paid by you to avail HRA deduction.
Show rent received under income from house property and avail deduction of 30% plus actual interest paid for home loan.
MANISH
(Student)
(82 Points)
Replied 15 January 2014
CAclubindia
