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Tax implication being a coborrower at one property and landlord at another property

Others 250 views 2 replies

I have purchased a property in mumbai in which my mother is co-owner as well as co borrower.I am paying the full EMI from my bank account so i am taking the home loan interest benefit.

 

Now i am working in bihar where mother has a property solely on his name can I take HRA benefit by paying rent to my mother.

Inshort can I take income tax rebate under section 24 in which my mother is co borrower and at the same time pay rent to my mother at another property

Replies (2)

When you dont have home, you can claim HRA plus 80C exemption

 

Tax implication on co borrower


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