WebNov 16, 2024 · In most cases, a home loan will give you a more significant tax benefit than HRA in terms of IT deductions. Paying off a home loan and house rent allowance (HRA) come with some tax benefits that should be considered before deciding whether to buy or rent a house. The comparative advantages of the two depend on several factors such as … Web5) If you have an HRA deduction to claim, the old tax regime might be better for you. HRA deduction is only available on rent paid for residential premises and such rent does not …
ITR filing: How to claim Home Loan tax benefit and HRA …
WebJul 2, 2024 · The question that often arises is: can employees undertake the responsibility of honouring a home loan and paying rent expenses at the same time? The short answer … WebAm I eligible for claiming Home loan Interest and Principal deduction If Yes 2.Under what circumstances I can declare both HRA and Housing Loan as my house is still under construction and it will take another 4 months for the construction to complete and take possession of the newly constructed house. 3.How much Interest can I declare for the ... how hard is the ccna reddit
Can you claim both HRA & deduction on home loan …
WebApr 4, 2024 · As you are staying at the house, you have availed on a home loan, and you work in the same city, you cannot claim HRA tax benefit. However, you can claim the income tax deduction on the home loan for principal and interest payments as you have … Can I Claim HRA and Deduction on Home Loan Interest? Yes, you may claim the … WebFeb 13, 2015 · Question 1- Can I declare HRA and home loan interest in the following manner… Self – Interest for home loan 1 and home loan 2 (2,00,000 + 2,00,000) & declare income of home loan 1 (1,75,000) … WebMay 5, 2024 · Moreover, to claim both, you should have all the necessary documents like the sales deed, completion certificate, etc. to justify the claim in case any query is raised. … how hard is the cbet