HRA benefit - Interest benefit

[Rahul Bagaria]

I own 2 houses in Calcutta and stays in a rented appartment in Gurgaon. My questions: - Can I claim HRA benefit for Gurgaon - Show 1st property as self occupied in Calcutta and claim Rs 1,50,000 interest benefit. - Show the 2nd property as let out and calculate notional rent and then can claim further loss (assuming my rental income is much lower than the Interest EMI , I pay) I think I am right on all my thoughts.Please opine.

AI Summary

Claim HRA for Gurgaon, self-occupy one Calcutta home for interest benefit, rent out second for tax loss. An individual inquired about tax benefits related to owning two houses in Calcutta while living in a rented apartment in Gurgaon. They asked if they could claim House Rent Allowance (HRA) for Gurgaon, show one Calcutta property as self-occupied to claim an interest benefit, and treat the second property as let out to claim a loss due to low rental income. Two respondents agreed with the proposed tax planning. One emphasized the applicability of tax provisions for self-occupied properties when residing elsewhere for employment, and advised caution in determining notional rent based on fair market or municipal value.