the exemption under Section 54 by mentioning the purchase of the new flat in May. The exemption under Section 54 applies irrespective of the financial year, as long as the reinvestment conditions are met, and the amount is reinvested before the due date of filing income tax return for the year of sale.
Saurabh Kumar
Yes, you can claim both House Rent Allowance (HRA) exemption and tax deduction on home loan interest, provided the flat you purchased is not in the city where you are currently residing and working, and you are currently residing in a rented house in the city of your work.
This story is from the January 04, 2025 edition of Financial Express Ahmedabad.
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This story is from the January 04, 2025 edition of Financial Express Ahmedabad.
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