Hi, I want to take home loan to buy a plot.Should I take the loan to buy a Plot.Should I also get Tax benefit.Should I get benefit of both HRA and Home Loan till consuction oh the House.
In the case where you have taken a home loan and given that property to earn rental income. Also, you yourself are residing in a family owned property (not in your name).
Do you get claim for HRA (by paying rent to your father for residing in family owned property), Int on Loan (for property given to earn rental income), Principal deduction(for property given to earn rental income)?
I have taken a home loan for buying a house. the posession of the house is due in august'2006.The EMI has already started. the house is situated near my rented residence. both the places are at the same distance from my work location.
can I claim the hra+home loan benefits in my income tax. In case no then after the posession of the house, how can I claim the income tax benefits on the EMI which I would have paid till august'2006.
My employer says that You can claim only HRA and not the home loan benefits as the Bought house and the rented property is situated at the same distance from the office.
Hello, I have purchased a flat 3 years back, which is on joint name of me and my wife. We are staying in this flat currently. Housing loan is also on both of ours name, though she is not working. For last 3 years I have claimed both principal and interest paid deductions for income tax purpose.
Can I claim HRA instead of deduction on interest paid OR only HRA instead of both principal and interest paid
I have taken home loan of Rs 7,50,000/- rom my organisation and constucted my house. This home i have given on self lease to my organisation and i am staying in this house with my family. My organisation gives me Rs 7280 pm as self Lease charges and Rs. 14560 per annum as maintenance charges. It deducts Rs. 900 pm as HRR. My basic pay is Rs 23300 and DA Rs. 11,500/. But after including various allowances my gross annual salary becomes Rs 700000/- plus. with new law kindly explain me the tax implication.
I purchased a house, and 100% disbursement has been made, but possesion I will be getting on August 05, Currently I am staying at a rented accomodation paying 5000 as rental. So from this month I will be paying my EMI as well as rent, So kindly suggest can I avail tha facility of both
