How to claim Housing Loan Interest while filing returns

hi sir, i would be claiming HRA for 11 months and balance 1 month i will show as rent earned from leased flat. i want to claim the interest component for housing loan while filing returns. how can it be done?

i have recvd. leave encashment for last year leave not consumed.. however its being treated under taxable income.. how can i get it exempted?

asked Mar 14 '11 at 04:36 by Nitesh Shivdaokar 1111


I am not able to understand your query.
You want to claim both HRA and home loan interest component at the same time?

In case you have got the possession of your flat, then you can claim interest for tax exemption.
In case your own house (on which home loan is taken) is far away from your office (daily commuting cannot be done) then you can claim both HRA and home loan interest for tax exemption.

As per section 10(10AA) of income tax in India, leave encashment amount received by employee by a previous employer in full and final statement, is non-taxable. You can read more here: Leave encashment non-taxable

answered Mar 16 '11 at 13:00 by Pankaj Batra 5.2k320


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Asked: Mar 14 '11 at 04:36

Seen: 2,856 times

Last updated: Mar 16 '11 at 13:00