Housing loan exemption?

I have bought a flat at 25 kms away from office. I am staying in nearby my office. If my parents are staying in new flat, shall i claim interest on lon for new property and and rent for my stay ?

1) Yes. You can claim exemption on interest up to 1.5 lakhs and as usual up to 1 lakh on principle amount repayment u/s 80C. You cannot claim the rent paid by you.

2) If you give that flat on rent, then you can claim 80C deduction on principle repayment as well as full interest deduction (Actual interest paid - even if the interest is more than 1.5 lakhs). You can claim municipal tax paid. 30% deduction for repairs on rent amount (even if no repairs). But you have to pay tax on rent.

take the loan rebate from income tax.live any where but rent are payable from your pocket.no tax deducation.

yes u can claim excemption for housing loan repayment as deduction under scetion 80c bu no deduction or claim for rent

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