Availing tax benefits on your home loan and HRA
As long as you are paying rent for an accommodation, you can claim tax benefits on the HRA component of your salary, while also availing tax benefits on your home loan.
This could be the case if your own home is rented out or you work from another city, et cetera. However, you need to account for any rental income you receive from the property you own under income from other sources.
If you are a couple and one of you have taken a home loan, the other can claim HRA benefits provided again the other pays tax on rental income received.
Also read: Bad times ahead for Indian IT firms
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