Claiming Both HRA and Home Loan Interest in ITR? Know the Rules
A lot of people wonder if they can get tax benefits for both paying rent and having a home loan. Salaried individuals receive House Rent Allowance (HRA) along with their salary to cover the cost of living in rented housing. Many people take a home loan to buy a house, which might be under construction or rented out, but still live in a rented house for work or other reasons. So, is it possible to claim exemption on both the HRA and home loan interest? The good news is, yes, you can claim both, and it is completely legal . However, to do this, you must meet certain conditions. Let us understand the conditions under which you can claim both.