Home > Money > Question

Sign In | Create an account

Language:

Now in हिन्दी too

Need Expert Advice?Our Gurus Can Help

Anil Rego |388 Answers |Ask -Follow

Financial Planner - Answered on Dec 21, 2020

Anil Rego is the founder of Right Horizons, a financial and wealth management firm. He has 20 years of experience in the field of personal finance.
He’s an expert in income tax and wealth management.
He has completed his CFA/MBA from the ICFAI Business School.... more

Question by MILIND on Dec 21, 2020Hindi

Listen

Money

My home loan interest component for FY 2020-21 is 3,01,473.00. Under section 80C of the Income Tax Act, the interest paid is deductible up to Rs 2 lakh per annum under section 24. But if the house is rented can we get benefit above 2 lakh? If yes, let me know how to claim it.

Ans: From AY 2018-19, set off of losses due to let out property interest is restricted to Rs 2 lakh, in line with that of a self-occupied property.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

MoneyReply

You may like to see similar questions and answers below

Tejas Chokshi | Answer |Ask -Follow

Tax Expert - Answered on Sep 11, 2023

Asked by Anonymous - Sep 05, 2023Hindi

Listen

Money

Hi Tejas,Hope you are doing great.I have an query regarding home loan.I have 2 flat,one I am residing and one I let out... and for both,home loans are going on.For tax purpose,I am putting my higher loan for interest deduction (200000),Can I get any deduction benefit on my 2nd house (for this I took loan on 2013)

Ans: basis the details you have provided, one in which you are residing may be considered as self-occupied and one which is let out . in both the cases, the deduction of the home loan interest paid to the approved housing finance company by banking channel and against certificate of interest issued by such company is available.

Mihir Tanna |1054 Answers |Ask -Follow

Tax Expert - Answered on Nov 22, 2023

Asked by Anonymous - Nov 17, 2023Hindi

Listen

Money

I have bought a house in Delhi by raising loan which I have let out but for my parents and self I have been continuing residing in rented accommodation am I eligible to claim both HRA exemption and claim interest on loan by setting it off against rent of property let out

Ans: No, you can not claim HRA as you own a property in same city

Mihir Tanna |1054 Answers |Ask -Follow

Tax Expert - Answered on Feb 17, 2024

Question by Vishal - Feb 06, 2024Hindi

Listen

Money

Hi I took a home loan in 2013 and paid back the same before getting possession. During the period I paid around 270,000 inr as interest and zero principle. The loan was settled in 2015 and I travelled abroad for job. Now I returned to India in June 2023. Can I claim benefit in income tax for interest paid on loan during Pre EMI period after 8 years? As I was NRI I didn't claim any benefit in income tax.

Ans: No,

Pre construction interest deduction can be claimed in 5 equal installment immediately after construction is completed.

Mihir Tanna |1054 Answers |Ask -Follow

Tax Expert - Answered on May 24, 2024

Asked by Anonymous - Feb 20, 2024Hindi

Listen

Money

I have a purchased an under construction property in June 2022 for which housing loan I took in March 2023 .The property will be ready to move in by 2026.Can I claim Income tax exemption for the interest towards housing loanI am paying now

Ans: Deduction on home loan interest can be claimed when the house construction is completed in 5 equal installments in subsequent years.

Latest Questions

Dr Nagarajan J S K |530 Answers |Ask -Follow

NEET, Medical, Pharmacy Careers - Answered on May 30, 2025

Question by Vaishnavi - May 27, 2025

Career

Sir I got 162 marks in met and 90% in boards. What branch can I get in main campus manipal?

Ans: Hi Vaishnavi,
To find out the Rank, use the below-mentioned formula.
MET(200) + BOARD (P+C+M+E =400)
------------------------------------------------------ = RANK
2

Find out the rank and then plan.
BEST WISHES.
POOCHO. LIFE CHANGE KARO!

Dr Nagarajan J S K |530 Answers |Ask -Follow

NEET, Medical, Pharmacy Careers - Answered on May 30, 2025

Question by Jishnu - May 28, 2025

Career

Sir what would be my rank and probable branch with 115 marks in MET and 91 Percentage overall of board.Please kindly guide .

Ans: Hi Jishnu,
To find out the Rank, use the below-mentioned formula.
MET(200) + BOARD (P+C+M+E =400)
------------------------------------------------------ = RANK
2

BEST WISHES.
POOCHO. LIFE CHANGE KARO!

Dr Nagarajan J S K |530 Answers |Ask -Follow

NEET, Medical, Pharmacy Careers - Answered on May 30, 2025

Question by Divyansh - May 30, 2025

Career

158 marks in met and 83.2% in boards , what can be my rank?

Ans: Hi Divyansh,
To find out the Rank, use the below-mentioned formula.
MET(200) + BOARD (P+C+M+E =400)
------------------------------------------------------ = RANK
2

BEST WISHES.
POOCHO. LIFE CHANGE KARO!

Dr Nagarajan J S K |530 Answers |Ask -Follow

NEET, Medical, Pharmacy Careers - Answered on May 30, 2025

Question by Roopa - May 30, 2025

Career

This is expected score Sir ..kindly advise seat through mcc and karnataka state quota

Ans: Hi Roopa,
You did not provide the required information to answer your question.

Dr Nagarajan J S K |530 Answers |Ask -Follow

NEET, Medical, Pharmacy Careers - Answered on May 30, 2025

Asked by Anonymous - May 30, 2025

Career

Is there any supplementary phase for VIT VELLORE, for vacant seats or cancelled seats.

Ans: Hi, please visit the VIT website for more information.
BEST WISHES.
POOCHO. LIFE CHANGE KARO!

Dr Nagarajan J S K |530 Answers |Ask -Follow

NEET, Medical, Pharmacy Careers - Answered on May 30, 2025

Question by Avi - May 30, 2025

Career

Securing 540 in neet if 2025 gen any chance for gmc

Ans: Hi AVI,

The NTA has not released the marks and rank list yet. We will need to wait for more information. Based on your prediction, a score of 540 is a decent score for admission to MBBS under the state-level quota, while a higher score is necessary for the All India Quota (AIQ). For updates regarding the marks and the admission process, please follow the respective websites.

BEST WISHES
POOCHO. LIFE CHANGE KARO!

Dr Dipankar Dutta |1508 Answers |Ask -Follow

Tech Careers and Skill Development Expert - Answered on May 30, 2025

Asked by Anonymous - May 27, 2025

Career

Which college is best for bachelor of architecture. Class 12 -74% obc and jee mains category rank 2031

Ans: SPA Bhopal
SPA Vijayawada
NIT Trichy (Tiruchirappalli)
NIT Calicut
NIT Hamirpur
MNIT Jaipur
NIT Patna
NIT Raipur
Mizoram, Nagaland, or other newer NITs

Dr Dipankar Dutta |1508 Answers |Ask -Follow

Tech Careers and Skill Development Expert - Answered on May 30, 2025

Question by Adidev - May 27, 2025

Career

Sir i have a rank 33k in VITEEE but wasnt able to get into any ECE or CSE branch in VIT chennai but my friends with ranks of 70k+ got in is there any way??

Ans: Possible Reasons for This Discrepancy
Counselling Round Differences:

VIT counselling happens in multiple rounds. If your friends participated in later rounds, the cutoffs may have relaxed due to withdrawals.

Some seats may open up in sliding or mop-up rounds.

Category of Fee:

Your friends might have opted for higher fee categories (Category 2, 3, etc.), while you may have applied under Category 1, where cutoffs are stricter.

Campus/Branch Preferences:

Check if they selected less popular CSE/ECE specializations (e.g., CSE with Business Systems, or ECE IoT) rather than core branches.

Incorrect Preference Order:

Sometimes, students miss out because they placed less probable branches higher in preference order.

Dr Dipankar Dutta |1508 Answers |Ask -Follow

Tech Careers and Skill Development Expert - Answered on May 30, 2025

Question by Meetansh - May 27, 2025

Career

what should be prefer DSAI or CSE in thapar

Dr Nagarajan J S K |530 Answers |Ask -Follow

NEET, Medical, Pharmacy Careers - Answered on May 30, 2025

Question by Rebel - May 30, 2025

Career

I have given my maharashtra board exam in 2024 with pcm english and It exam And i also gave improvement exam on 2025 exam in again pcm english and IT Can I give Isolated biology exam on 2026 GET ELIGIBLE FOR NEET 2026 I really want to appear for neet 2026 Please somebody help Please

Ans: Hi Rebel,
For NEET 2026, there is still time. We can't predict any changes in the NEET exam at this moment, so we must wait for the notification from the NTA. It might be better for you to take an isolated exam through NIOS.
BEST WISHES
POOCHO. LIFE CHANGE KARO!

Asked on - May 30, 2025 | Answered on May 30, 2025

Sir I wanted to add something I gave improvement from again maharashtra board And want to give give Isolated exam from. Maharashtra board am i eligible for this for just one subject examination from Maharashtra board And sir I am not accepting the improvement result so I will go with 2024 result only

Ans: Hi Rebel, you cannot determine your marks. Normally, the regulatory body will consider only the latest RESULTS and NOT highest marks from two different attempts. Please review the guidelines of the Maharashtra board and FOR BIOLOGY and proceed accordingly.
BEST WISHES.
POOCHO. LIFE CHANGE KARO!

See more questions »

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

Video Reply
Audio Reply

WhatsApp
Facebook
Twitter
Copy link

Delete

Close

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus

Sign up

email

uname

mobile no

Country Code

Mobile number

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

LOGIN

x