"Great things never come from comfort zone"           "Wealthy people invest first and spend what’s left and broke people spend first and invest what’s left"           "Investment is an asset or item that is purchased with the hope that it will generate income or appreciate in the future"           "The secret to getting ahead is getting started.................Start using your Savings to Earn Money"           "The best gift, and investment, you can give your child is your time"           "Investing in your child’s education is never a wasted effort"           "Making money and handling money are both different things"

Answers 

Can HRA be claimed along with interest on home loan?

Total Answers 1

Answer by: VISHAL BANSAL

Regarding claim of House Rent Allowance along with Deduction of Interest on Home Loan:

  1. An Assessee can claim House Rent Allowance in respect of rent paid for residential accommodation occupied by him if HRA received is a part of salary. It can be exempted under section 10 (13A).
  2. He can also claim deduction for Interest taken on Home Loan, if he is not residing in his purchased property. This claim comes under section 24 (b) of Income from House Property.
  3. Even he can claim deduction under section 80C for repayment of home loan.


Share your answer Make sure to Login befor submitting an answer

© 2024 - EnSkyAR Financial Services