Can You Claim Home Loan Tax Benefits and HRA for Different Addresses? What Do Auditors Say?

Hi,

I want to know if one can claim a home loan tax benefit for a property purchased on a loan for which EMI is being paid and simultaneously claim HRA benefit. This means HRA is shown for a different address than the property address. What is the practice, and what do auditors say?

Regards

Hi,

You can claim both interest on a home loan as well as HRA, even if you are in the same city. However, you should be able to justify that you are staying in a rented house due to its location far from your spouse's or children's regular place of work.

You can claim HRA from income under the head salaries and the interest under the head Income from House Property.

I hope I have clarified your doubt.

All the best,
Murali