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
Pl indicate whether your home (purchased out of home loan) has been given on rent to somebody by you.
Thanks! Is it applicable if the house on loan is not the same city?
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.