Can I Claim Both HRA and Home Loan EMIs for Tax Benefits While Working in Hyderabad?

I am working in Hyderabad, but I have a house property in Guntur for which I am paying EMIs every month. Can I claim both HRA and EMIs for my tax calculation?

Dear Surya,

Please let me know if you are staying in Hyderabad on rent or not. Also, is the property you mentioned in Guntur on rent, or are your parents living there? Kindly clarify.

Katayana

Dear Surya,

If you stay in a rental house in Hyderabad, then you receive both benefits, i.e., HRA and Housing Loan (principal and interest), from your taxable salary.

Regards,

IM Gandhi

Dear,

For the EMI, you may claim an IT rebate under the source itself. Similarly, for the rent paid, you may also claim HRA benefits. On the other hand, you must state in your IT return whether you are receiving any income from the property or not. If there is any income, then the same should be included in your IT return.

Sengailingam