Home loan interest rebate

I had bought two flats, the EMI for both is 20,000 per month each. Can you please tell me how much benifit i can take. Both the flats are ready to live but both i had given for [email protected] each and i am staying at [email protected]/month.The HRA is Rs 13750/month from the employer.

asked Jun 03 '11 at 03:41 by Ashok Jindal 1111

If your owned flat is in same city as job or within a commutable distance, then you cannot avail HRA exemption.

You can avail exemption for loan for both the flats. If they have been given on rent, then there is no maximum limit of home loan interest exemption. Whole interest amount paid in the year can be deducted from salary. But you will have to show rent as a part of your income.

answered Jun 03 '11 at 22:52 by Pankaj Batra 5.2k320


Know someone who can answer? Share a link to this question via Email, Twitter, or Facebook

Your answer
toggle preview

Follow this question

Once you sign in you will be able to subscribe for any updates here

Markdown Basics

  • *italic* or __italic__
  • **bold** or __bold__
  • link:[text](http://url.com/ "title")
  • image?![alt text](/path/img.jpg "title")
  • numbered list: 1. Foo 2. Bar
  • to add a line break simply add two spaces to where you would like the new line to be.
  • basic HTML tags are also supported



Asked: Jun 03 '11 at 03:41

Seen: 2,165 times

Last updated: Jun 03 '11 at 22:52