I have taken housing loan and I have been claiming under 80 C and 24. Now I want to rest out the flat. What are the benifits available?. I am staying with my spouse and also not claiming any HRA
Do house rent came under '1lakh saving quota' or its having different place? I mean, if my salary is 4 lakh pa and I have to pay Rs.1lakh as installments for my house. Now can I still have the option of 1lakh saving with me?
I've a Flat in Bangalore and it's been rented out. EMI and Rent are approximately same.
My company says in its tax declaration form that "If your house is rented out, then the difference between "Rent" & "EMI" is eligible for tax exemptions for "Home loan interest". However, company says that "Principal up to 1 lac" of Home loan is eligible for tax exemption.
Question: I would be interested in viewing any official link which support point mentioned by you in your article.
Sir, I have an existing home loan ...I have constructed my house and enjoying the benefits of Principle and Interest re-payment tax benefits..
To save my tax further I am planning to:
a)Construct further in the same plot and enhance my home loan there by I will get more tax benefits
OR
b)Buy a property far off from my existing residence (same city)
Query: 1)Which one do you advice to save my tax deductions? 2)If I chose 2nd option I am aware I cannot avail Principle Re-payment benefit but can avail Interest paid on the new property....so can I avail loan benefits on my 2nd property at the same time give it on rent? 3)If I take the 2nd home on my wife`s name....can I take loan on it?what befefits can I avail from 2nd loan in this case?
Hi, I am staying with my mother (in her owned house) and every month I pay her rent for the same. Can I take claim for HRA rebate if I show produce the rent reciepts and/or rent agreement papers ?
Dear Sir, We have taken home loan of Rs.22,27,000/- from ICICI Bank Ltd. for tenure of 20 years. Loan taken jointly on name of me & my spouce,both of us are salarised person. Now my query is that can we both claim income tax benefit,if yes how? Awaiting for your reply for our query. Thanking You. Regards, Jitendra M. Bhole
