WebApr 10, 2024 · 3) If you have just 80C deduction of Rs 1.5 lakh then new tax regime might be better as back-of-the-envelope calculations show that for an individual who just avail a deduction of Rs 1.5 lakh ... WebJan 31, 2024 · 1 min read . Updated: 31 Jan 2024, 08:48 AM IST Balwant Jain. The income tax laws allow a person to have maximum of two houses as self-occupied. There is no …
Income Tax Exemption On HRA Vs Home Loan: Savings and Calculation
WebNov 27, 2024 · HRA tax benefit is only available to salaried employees To get the tax benefit HRA must be part of the salary Tax deduction available on home loan interest and … boundary vancouver
Know when you can claim both home loan and HRA …
WebFeb 25, 2024 · A salaried employee can claim both of these benefits under the rules of the Income Tax Act 196 if certain conditions are met. This benefit is available even if the house was purchased with a home loan and is located in the same city where the employee works and lives in a rented apartment. You can also claim both HRA and home loan tax benefits ... WebAccording to income tax laws, there are no legal restrictions vis-à-vis claiming HRA benefits and home loan benefits at the same time The income tax laws allow you to claim various tax benefits, with respect to the house occupied by the assessee – whether it is owned by you or taken on rent. Claim HRA as well as home loan benefits Watch on Web1 day ago · 8. Marginal Relief: The rebate u/s 87A is available on taxable income of Rs 7 Lakhs.However, those earning even marginally higher than the threshold were required to … boundary ventures