Home loan vs house rent in ITR

Assistant Manager HR

Dear Members,

May I know if I already have a home on my name (using home loan) but I am living in a rented property. I am a salaried employee, can I put rent receipts and home loan both for IT exemption? And what are the conditions to avail the exemption under both the sections.

 

Regards,

Prashant Agnihotri

 

 
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Advocate

Pl indicate whether your home (purchased out of home loan) has been given on rent to somebody by you.

 
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Assistant Manager HR

No, it's not on rent.

 
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hi if you are stay in rented house you can claim either section10(13A) or u/s80gg
 
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Assistant Manager HR

Thanks! Is it applicable if the house on loan is not the same city?

 
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consultant

If you avail a housing loan for construction of your house and it has completed. You can claim interest on such housing loan as deduction u/s 24.  If you are not staying in that city where you house is situated, staying in othe city, take a house for rental purpose, you can claim exexption u/s 13 for rent payment.

 
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I have some doubt if some one has two house one house is own purpose, other house is rental purpose can he show under IT any deductions r exemption?
 
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