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videos | IST

Tax deduction on home loans can't be claimed if a person avails HRA exemption

Mini

As CNBC-TV18 turned 20 and we head into 2020, I have been looking to bust some common investing and personal finance myths.

An employee who has claimed house rent allowances (HRA) can't get the benefit of tax deduction on home loans. If you have purchased your house and on loan then principal is covered under Sec 80 C. Therefore, up to Rs 1.5 lakh is covered and then the benefit that you get on the interest component that falls under Sec 24. Watch this  CNBC-TV18 show for details.