ASSUMTION 1.staying in rented house in small twon. 2.rent paid annually is not exeeding 10 percent of the annual salary. 3. can we are able to claim HRA amount exumtion from income-tax.
I have purchased my own house thru Bank finance. I am staying in another house which is rented. Now tell me, if i am claiming Bank's Loan principal+interest and reducing my tax liability, can i also claim rent .The house which i have purchased is vacant at the moment and i will give it to Paying Guests accomodation. Both houses rented as well as my own are in the same locality.