Interest on home loan & hra

Discussion in 'Tax planning' started by bhargav, Dec 18, 2013.

  1. bhargav

    bhargav Member

    I am aware that a salaried individual can claim both HRA and Interest on Housing Loan. But it involves only 1 house and the owner living on rent. Hence, claims both the benefits. In my case, I am salaried and claim HRA. I have purchased 2 properties in Navi Mumbai (both in my and my wife's name). One of them is under construction and is expected to be ready by Dec'13. The other is ready-to-move-in. I am taking Housing Loan for both the properties. The under construction property would fall under the recently inserted clause of additional Rs.100,000 tax benefit for Interest on HL u/s 24(b). The ready to move in property has a higher Loan amount, hence higher Interest amount too compared to the other Loan. I want to claim Interest on Home Loan on both my properties and also want to claim HRA.
  2. johnsmitchals

    johnsmitchals New Member

    Interest only mortgages are becoming very popular. There are many benefits to having an interest only home loan. As the name implies, interest only home loans are loans that include an option of only paying the interest every month.

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    cash for house

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