HRA and Loss on two house properety when I own two houses

arora_j 1
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I own two houses One in Pune and another in Bangalore and I have taken loan for both the houses. I work in Delhi and styaing here on Rent. The house in Pune is self occupied and the one in Bangalore has been given on Rent. So can I claim all of the given below

(1) Tax benefit for HRA (2) Loss on House proprety self occupied Pune house upto 1.5 lacs (3) Loss on let out Bangalore properety on actual basis without any limit

Someone told me that I can claim HRA+self occupied loss only if I own one house. But If own two houses and I stay on rent then I need to show both the houses as letout, if I need to claim HRA.

Thanks in advance for your response. Regards J

hra-exemption multiple-houses house-rent-allowance
1 Answers
  1. Yes, you can claim HRA exemption as none of the house owned by you in same city (or at a commutable distance) where you work.
  2. For self occupied house, interest deduction can be taken upto Rs 1.5 lacs in a financial year.
  3. For house given on rent, there is no limit on interest deduction.

You can show one house as self-occupied and no need to show notional rent for same (for other house notional or actual rent would need to be shown). as per section 23(2), self occupied property means either a. Where the property consists of house or a part of house which is in the occupation for the purpose of his own residence, or b. Cannot actually be occupied by the assessee owing to his employment at any other place.

Pankaj Batra5212

I own a house in Mumbai which is rented and stay in chennai on rental basis and work here 1. can I claim principal exemption u/s 80c, 2. Interest exemption for the emi paid 3. HRA for the rent paid in chennai

dhatchayanim•

You can claim principal payment u/s 80C, Interest exemption u/s 24 and HRA exemption for rent paid in Chennai.

Pankaj Batra•
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