Can you get tax deductions for HR and home loans at the same time? House Rent Allowance (HRA) is an allowance provided by employers to cover the cost of rented accommodation. The Income Tax Act allows exemption from HR if the employee lives in a rented house. In addition, the law allows an individual taxpayer to deduct the interest paid on his home loan. This discount applies to home loans for the purchase, construction, renovation, or reconstruction of residential property. As per the Income Tax Act. Entitled taxpayers to get benefits both Home Rent Allowance (HRA) and interest…
Read MoreCan you get tax deductions for HR and home loans at the same time? With Automatic Income Tax Preparation Software in Excel for the Non-Govt Employees for the F.Y.2023-24 and A.Y.2024-25
