I claim home loan principal and interest benefit on my house. And since my office is rather far than my house, I want to shift to a rented accommodation close to my work in the same city.
If I do so:
1. Can I claim both House rent allowance and Home loan principal and interest benefit at the same time?
2. A friend of mine told me that it is possible if a proper justification is provided to the department/ employer. Can my reason, being the distance of about 25 km, be justified?
3. Obviously, I would let out the house I own, and add the tax proceeds to my taxable income. But can I claim expenses such as monthly maintenance expenses as deduction?
Jan. 05, 2018