Need A Financial Product Forums Tax Savings Can I avail income tax exemption on let out property

This topic contains 1 reply, has 2 voices, and was last updated by  Kesarinath 2 years, 7 months ago.

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  • #48036

    Kesarinath
    Member

    I have acquired a house in Gurgaon through home loan borrowed from HDFC Ltd. I am working in Secunderabad and I am living in a rented accommodation here. My salary component consists of HRA. Since the house in Gurgaon was vacant I have rent it out. I am claiming income tax benefit for the EMI I am paying for this house. My friend told me that I can also claim income tax exemption for the rent that I am receiving from my house in Gurgaon. How this exemption can be availed?

    #48037

    Sanjay Gupta
    Member

    Ideally a tax exemption is not allowed on revenue.

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